Theriault Departs Northern Trust

September 8, 2009 ( - Northern Trust has named a new head for its Corporate & Institutional Services Business Unit (C & IS).

The Chicago-based firm announced earlier today that Timothy J. Theriault is stepping down as C & IS President “to pursue interests outside of the financial services sector”. Steven L. Fradkin, Executive Vice President and Chief Financial Officer since 2004, has been named President of Northern Trust’s Corporate & Institutional Services Business Unit (C & IS), according to the announcement.

William L. Morrison, Executive Vice President and co-President of Personal Financial Services since 2003, will assume Fradkin’s role as Chief Financial Officer, while Sherry Barrat, President, Northern Trust Personal Financial Services, will assume Morrison’s current responsibilities.

Fradkin, Morrison and Barrat will continue to report to President and Chief Executive Officer Frederick H. Waddell.