In a statement, Northern Trust Chairman and CEO Frederick H. Waddell lauded Barrat’s vision, energy and leadership, saying they were “instrumental in keeping Northern Trust the premier wealth management firm in the U.S.”
Barrat began her career with Northern Trust in Miami. Prior to heading the Private Financial Services business globally, she served as president of its Palm Beach region and later served as CEO of its Western region based in Los Angeles. She assumed the role of vice chairman in 2011, the company said.
Northern Trust’s Private Financial Services business provides asset management, fiduciary, estate and financial planning, private banking and family office services to successful individuals and families.
The company also announced that David Fox Jr. will join Northern Trust as head of the Americas for Corporate and Institutional Services from JPMorgan Chase, where he most recently served as vice chairman of Investment Banking. He starts his new position on May 2.