Northern Trust has elected David H. B. Smith Jr. to its board of directors.
Harold B. Smith and Arthur L. Kelly have stepped down after decades of service, consistent with retirement age guidelines for directors.
David Smith is executive vice president of policy and legal affairs and general counsel at the Mutual Fund Directors Forum.
Previously, he held several positions at the US Securities and Exchange Commission including associate director in the division of investment management. He also serves on the board of directors at Illinois Tool Works.
"We are delighted to welcome David to the board," says Northern Trust chairman and chief executive officer Frederick H. Waddell. "Northern Trust will benefit greatly from David’s regulatory and leadership experience in the financial services industry."
Harold Smith has concluded his service to Northern Trust’s board of directors after serving for 30 years. He is chairman of the executive committee for Illinois Tool Works, where he previously served as president of the company. He also serves as a director of W.W. Grainger and has served as a trustee of Northwestern Mutual Life Insurance.
Kelly has also stepped down from Northern Trust’s board after serving as a director for 22 years and lead director since 2009. Kelly is managing partner of KEL Enterprises. Previously, he served as president of LaSalle Steel and senior partner-international of A.T. Kearney.