Northern Trust Wealth Management Announces Leadership Changes

Rhea-AI Summary

Northern Trust Wealth Management has announced key leadership changes effective March 1, 2025. Glenda Pedroso, with a 35-year banking career, will become Head of Banking and Specialized Services, leading a new function that combines the company's balance sheet, lending, deposit, and liquidity solutions with specialized services. Michael Bracci, a three-decade company veteran, will succeed Pedroso as President of the East Region, overseeing wealth advisory teams across eight states.

Additionally, Alexander Adams will expand his role as Group Managing Director for South Florida to include the Mid-Atlantic Region, while Stacey Hallberg will be promoted to Group Managing Director for East Florida. The company manages $450.7 billion in assets as of December 31, 2024.

Positive

• Assets under management stand at $450.7 billion as of December 31, 2024
• Strategic reorganization combines banking and specialized services under unified leadership
• Internal promotions demonstrate strong succession planning and talent retention

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Northern Trust Wealth Management announced two leadership changes: Glenda Pedroso will become Head of Banking and Specialized Services, and Michael Bracci will be named President of the East Region. The changes will be effective March 1, 2025.

Pedroso will lead a new function that combines Northern Trust’s fortress balance sheet and sophisticated lending, deposit and liquidity solutions with specialized services for fund sponsors, professional services firms, privately held businesses and their principals. Pedroso has held numerous leadership positions over her decorated 35-year banking career, most recently serving as East Region President.

Bracci succeeds Pedroso and will oversee Northern Trust’s wealth advisory teams in the East Region, which encompasses Connecticut, Delaware, Florida, Georgia, Massachusetts, New York, Pennsylvania and Washington, D.C. Bracci’s career with Northern Trust spans three decades, including serving as President of the East Florida and Mid-Atlantic regions since 2023.

“These appointments mark an exciting chapter for the business as we accelerate growth and elevate our banking and advisory capabilities to unique market segments,” said Northern Trust Wealth Management President Jason Tyler. “With their deep expertise and strategic vision, Glenda and Mike bring the leadership necessary to meet the evolving needs of affluent individuals and families while ensuring the highest standards of service and financial stewardship.”

In addition, these changes will create expanded roles for two regional leaders. Alexander Adams, Group Managing Director for South Florida, will add the Mid-Atlantic Region to his responsibilities. Stacey Hallberg, Senior Managing Director for the Boca Raton and Delray Beach offices, will become Group Managing Director for East Florida.

Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise, with $450.7 billion in assets under management as of December 31, 2024. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2024, Northern Trust had assets under custody/administration of US$16.8 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250210874843/en/

Media Contact:

Landis Cullen

312-444-3188

landis.cullen@ntrs.com

http://www.northerntrust.com

Source: Northern Trust Corporation

FAQ

When will Northern Trust's (NTRS) new leadership changes take effect?

The leadership changes at Northern Trust will take effect on March 1, 2025.

What is Northern Trust's (NTRS) total assets under management as of 2024?

Northern Trust Wealth Management has $450.7 billion in assets under management as of December 31, 2024.

Who will become Northern Trust's (NTRS) new Head of Banking and Specialized Services?

Glenda Pedroso will become Head of Banking and Specialized Services at Northern Trust.

Which states are included in Northern Trust's (NTRS) East Region?

Northern Trust's East Region encompasses Connecticut, Delaware, Florida, Georgia, Massachusetts, New York, Pennsylvania and Washington, D.C.

What is Michael Bracci's new role at Northern Trust (NTRS)?

Michael Bracci will become President of the East Region at Northern Trust.