As of the end of 2013, financial services company Northern Trust Corporation had assets under custody of $5.6 trillion and assets under investment management of $884.5 billion. Overseeing the legal issues for that kind of money is a big job, and Northern Trust is bringing in a high-powered new legal chief: Susan Levy, formerly managing partner at Jenner & Block.
Levy, who is due to start at Northern Trust May 1, pending board approval, replaces Kelly Welsh, who has taken the general counsel job at the U.S. Department of Commerce. “While we are sad to see Kelly Welsh leave after years of outstanding contributions to the company, Susan Levy is a superb successor as Northern Trust general counsel,” said Frederick Waddell, CEO of Northern Trust, in a statement. “Susan has achieved a distinguished career as a highly respected lawyer, counselor and business leader. In addition to legal expertise, she brings tremendous judgment and business acumen to her new role.”
