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Northern Trust names risk management head

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US – Northern Trust has made a series of management changes, including the creation of a new corporate risk management post.

The company said in a statement that has named Peter Rossiter to the new role of executive vice president of corporate risk management. He will be replaced as president of corporate and institutional services by Frederick Waddell, who currently heads its wealth management group. Steven Bell will take over as head at wealth management.

Stephen Timbers, remains president of Northern Trust Global Investments and also become vice chairman of Northern Trust Corp. Mark Stevens is named vice chairman of Northern Trust Co.

Northern Trust has trust assets under administration of 1.5 trillion dollars, assets under investment management of 302.5 billion dollars and banking assets of nearly 40 billion dollars.

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