Replacing Morrison in the role of Chief Financial Officer will be Michael G. O'Grady, who will join Northern Trust in August and assume the role of Chief Financial Officer effective October 1, reporting to Waddell.
O'Grady joins Northern Trust from Bank of America Merrill Lynch's Financial Institutions Investment Banking Group, where he served as Managing Director and head of the firm's Depository Institutions Group for the Americas, covering banks as well as certain asset managers, insurance brokers and exchanges.
He joined Merrill Lynch in 1992 as an Associate.
Prior to Merrill Lynch, O'Grady worked for Price Waterhouse from 1987 to 1990.
He graduated from the University of Notre Dame with a bachelor's degree in Accountancy and received his MBA from Harvard Business School.
has advised clients on numerous strategic and capital markets transactions and is very familiar with Northern Trust," Waddell said.
"I am confident that Mike
will strengthen the already outstanding leadership team at Northern Trust