American investment management firm Northern Trust has named Peter Cherecwich as president of corporate and institutional services (C&IS).

Jeffrey Cohodes will replace Cherecwich as president, C&IS-Americas.  In addition, Cohodes has also been named chief advisor for global counterparty strategy.

Cherecwich joined the group in 2007 and has been president, C&IS-Americas and president of Global Fund Services (GFS), as well as a member of the group’s management group since 2014. He previously also served as COO and head of Institutional Product and Strategy for C&IS.

The company has selected Wilson Leech as chief risk officer, replacing Cohodes. Leech has been the president of Northern Trust – Europe, Middle East and Africa (EMEA) since 2010. Current COO for C&IS Teresa Parker has been named as Leech’s replacement.

Leech, who will be based in Chicago, joined Northern Trust in 2004 to lead the GFS business. He has over two decades of experience in the financial services industry.

Parker is based in London and previously held various roles, including president of Northern Trust-Asia-Pacific, head of EMEA’s institutional and wealth management businesses, COO for EMEA and global head of asset servicing.

Northern Trust chairman and CEO Frederick Waddell said: “The depth and breadth of our management team allow us to draw successfully on experience from throughout the organization, positioning us for even greater success going forward. These leaders have proven track records that have been integral to our accomplishments over the past several years and will be key to our continued growth.”