Northern Trust has named William J. Huber and Mark C. Gossett as co-heads of Global Foreign Exchange, effective July 2. As part of the transition, Gossett will relocate to London and Huber will remain in Chicago. Both will report to Steven L. Fradkin, president of Corporate & Institutional Services at Northern Trust.

In turn, Peter Gloyne, current Global Head of Foreign Exchange, is retiring after 18 years of service, according to a press release.

Huber, a 23-year veteran of Northern Trust, currently serves as chief dealer of Northern Trust’s Global Foreign Exchange Division based. Gossett, an executive vice president with 29 years of service with Northern Trust, has served in a variety of senior roles including Chief Risk Officer and Chief Operating Officer for Northern Trust Global Investments.

“Peter has done an exceptional job leading our foreign exchange business through an ever shifting market environment and has been a valuable member of our global leadership team,” stated Fradkin.

“We are confident that Bill and Mark will continue Northern Trust’s longstanding and successful foreign exchange business focused on serving the needs of our clients.”

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