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Northern Trust makes wealth management leadership changes


Northern Trust has announced a number of changes to serve the evolving needs of its clients: affluent individuals and families, family offices, foundations, endowments, and privately held businesses.

John Fumagalli will transition from his responsibilities as President of Northern Trust’s business in Florida and assume the role of President of the Central Region, effective 1 March. He will relocate to Chicago where he will oversee the firm’s investment management, banking, and fiduciary business for Northern Trust’s offices in the region. Mac MacLellan, current President of the Central Region, will retire after an outstanding record of service during 13 years with Northern Trust.

Charlie Mueller, President of West Florida, will retire effective 1 March capping a 32-year career of leadership across multiple roles and geographies with the firm.

Pam Lucina, Chief Fiduciary Officer, Trust & Advisory Practice Executive and President of The Northern Trust Institute, and Glenda Pedroso, Banking Practice Executive, will move from National Services to report directly to Northern Trust Wealth Management President Steven L Fradkin. They will join the Wealth Management Executive Committee.

Stephanie Goforth has been promoted to Executive Vice President and Global Head of Sales & Marketing, also reporting to Fradkin and joining the Wealth Management Executive Committee.

Lucino Sotelo has been named Chief Digital Officer for Northern Trust Wealth Management. In his role, he will lead the newly formed Digital Services Group and oversee digital innovation. Jill Carlberg, who heads the Product Management, Service Excellence and Business Services Group, will retire after a distinguished 34-year career spanning multiple business units with the firm.

“These leadership transitions continue to build on the extraordinary talent and expertise across our Wealth Management business,” Fradkin says. “We are grateful for the longstanding stewardship consistently exhibited by Mac, Charlie and Jill even as we welcome this next group of Northern Trust leaders to their new responsibilities.”

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