Clive Bellows was named president of Europe, the Middle East and Africa at Northern Trust Corp., effective later this year and succeeding Teresa Parker.
Parker will retire later this year, a news release said on Feb. 7. She joined Northern Trust in 1982 and held executive leadership roles including as global head of securities lending.
Bellows is head of EMEA global fund services. Details on any replacement could not immediately be learned.
Northern Trust had $15.4 trillion in assets under custody as of Dec. 31.
Bellows will report to Peter B. Cherecwich, president of Northern Trust Asset Servicing, and will join the Northern Trust Management Group.
"Teresa has been a tremendous partner in all aspects of our business, and we thank her for ably representing Northern Trust with professionalism, integrity and consummate leadership," said Michael O'Grady, chairman and CEO, in the release. "Clive brings a wealth of experience to this role and is an ideal leader to head our EMEA region."