Northern Trust Corporation reports that President William L. Morrison has been appointed to a new role as Vice Chairman. The appointment will take effect October 1, 2016.

Morrison will continue to report to Chairman and Chief Executive Officer Frederick H. Waddell, who will assume the role of President. As Vice Chairman, Morrison will continue to lead the cultivation and development of key relationships with clients and prospects, both personal and institutional, around the globe. Additionally, he will assist with and/or lead development efforts around strategic opportunities as they arise.

“Bill is a leader with tremendous experience and outstanding judgment and we will benefit from his focused efforts around growing our talent, client relationships and capabilities,” Waddell said.

Morrison has served as President since 2011, and as Chief Operating Officer in addition to President from 2011 to 2014. He served as Executive Vice President and Chief Financial Officer from 2009 to 2011. Prior to that he held a number of leadership roles including President of Wealth Management from 2003 to 2009.