Gloyne will be replaced by William Huber and Mark Gossett, who will take up their positions on July 2. Huber, who has been at Northern Trust for 23 years, is the chief dealer of the bank’s global FX division and is based in Chicago. Gossett is a 29-year veteran of Northern Trust, having served in a variety of senior roles, including chief risk officer and chief operating officer for Northern Trust Global Investments.
Gossett will relocate to London, while Huber will remain in Chicago. Both will report to Steven Fradkin, president of corporate and institutional services at Northern Trust.
“Peter has done an exceptional job leading our foreign exchange business through an ever-shifting market environment and has been a valuable member of our global leadership team,” says Fradkin.
“We are confident that Bill and Mark will continue Northern Trust’s longstanding and successful foreign exchange business focused on serving the needs of our clients.”
Northern Trust, which has trading rooms in Chicago, London and Singapore, rose from 60th to 53rd in this year’s Euromoney FX Survey. The custodian bank was particularly strong with real-money accounts, almost doubling its volume and rising from 40th to 35th with that client group.