Northern Trust has appointed Clive Bellows, currently head of EMEA Global Fund Services (GFS), as president, EMEA. The move is pending regulatory approval. Bellows will succeed Teresa Parker, who plans to retire at midyear, following a 42-year career at Northern Trust.
Upon taking the EMEA president role, Bellows will join Northern Trust’s management group and report to Pete Cherecwich, president of Asset Servicing. His prior experience includes global responsibilities for Northern Trust’s private capital business lines, as well as the bank’s fund administration and depositary businesses across Europe. Bellows is a Certified Investment Fund Director (CIFD) and chairs the CIFD Advisory Committee.
Parker, who joined Northern Trust in 1982, has been based in London, Singapore and Chicago and has held numerous executive leadership roles including COO for Northern Trust’s Asset Servicing business; head of APAC; and global head of securities lending.
Nick Gilbert, currently chief strategy officer, will replace Bellows as head of GFS, EMEA, reporting to Toby Glaysher, president of GFS. Replacing Gilbert as CSO is Marc Mallett, who will be responsible for strategy, product and marketing, in addition to his current responsibilities for platform strategy. He reports directly to Cherecwich.