EUROPE – US-based banking and custody services provider Northern Trust has reshuffled its senior management in Europe, with Stephen Potter taking on a role vacated by Steven Fradkin.

Potter, currently London branch manager, becomes executive vice president and head of the international group and global fund services practice at its corporate and institutional services unit. He takes over responsibility for Northern’s clients outside the US and investment managers worldwide.

Steven Fradkin becomes executive vice president of finance, a new position. Northern has a total 1.7 trillion dollars in assets under custody and more than 300 billion dollars in assets under management. It ranked joint eighth alongside Citibank in the 2002 R&M Global Custody Survey.