The appointments at the financial giant will take effect from 1 February 2017, with the exception of one, which is subject to regulatory approval.

Northern Trust has made a host of leadership changes including three new presidents, a new chief risk officer and an addition to its management board.

Peter Cherecwich will be president for corporate and institutional services, while Jeffrey Cohodes will take on Cherecwich’s previous position of president of corporate and institutional services - Americas. Cohodes will also take on the role of advisor for global counterparty strategy, focusing on credit risk and regulatory requirements across capital markets and banking.

Wilson Leech will take over Cohodes’ previous role as CRO, while Teresa Parker succeeds Leech as president of Northern Trust - EMEA, subject to regulatory approval. A replacement will be named shortly for her previous role of chief operating officer of corporate and institutional services.

Cherecwich has over 30 years' financial services experience. He joined Northern Trust in 2007 and has served as COO, head of institutional product and strategy for corporate and institutional services, as well as president of global fund services.

Cohodes was CRO at the firm from 2011. He has also held leadership roles across asset and wealth management and was once chief strategy officer for the corporation.

Leech was president of Northern Trust – EMEA from 2010, overseeing asset servicing, and asset management solutions and services for institutional and ultra high net worth clients across the region. He has worked in financial services for more than 25 years. He joined Northern Trust in 2004 to lead global fund services. Leech will be based in Chicago.

Parker is based in London, and has held leadership roles throughout the enterprise, including president for Northern Trust - Asia-Pacific, head of the institutional and wealth management businesses in the EMEA, COO for Northern Trust - EMEA, and global head of asset servicing.

Cherewich, Cohodes and Leech are all part of the management group, while Parker will join it.

“The depth and breadth of our management team allow us to draw successfully on experience from throughout the organisation, positioning us for even greater success going forward,” said Frederick Waddell, chairman and chief executive at Northern Trust. “These leaders have proven track records that have been integral to our accomplishments over the past several years and will be key to our continued growth."

This publication is awating confirmation as to where Cherecwich and Cohodes will be based, and whether Cherecwich’s role, as well as Cohodes' additional role, are newly-created and will update accordingly.