Northern Trust Appoints Former Verizon CSO Rima Qureshi to Board of Directors

Overview of Event

On October 20, 2026, Northern Trust Corporation announced the appointment of Rima Qureshi to its Board of Directors, effective immediately. Ms. Qureshi was simultaneously appointed to the board of directors of The Northern Trust Company, the Corporation's principal banking subsidiary.

Committee Assignments

Ms. Qureshi has been assigned to two key oversight committees:

• Risk Committee
• Technology and Operations Committee

Executive & Industry Background

Ms. Qureshi brings nearly 40 years of corporate strategy, operational leadership, and telecommunications infrastructure experience:

• Verizon Communications Inc.: Former Executive Vice President and Chief Strategy Officer (joined in 2017).
• Ericsson: 23-year tenure, serving as Chief Strategy Officer and Chief Executive Officer of Ericsson North America.
• Board Governance Experience: Over 15 years on the board of Mastercard Incorporated, with current board seats at BT Group plc, Loblaw Companies Limited, and Swift (Society for Worldwide Interbank Financial Telecommunication).

Director Compensation

Pursuant to the Corporation's standard director compensation framework:

• Ms. Qureshi will participate in Northern Trust's Non-Employee Director Compensation Plan.
• She is eligible for the 2018 Deferred Compensation Plan for Non-Employee Directors.
• She will receive prorated equity awards corresponding to service through the Corporation's 2027 Annual Meeting of Stockholders.

Strategic & Governance Implications

Ms. Qureshi's extensive background in global technology, critical network infrastructure, and global payments systems (via Mastercard and Swift) directly complements Northern Trust’s ongoing investments in modernizing custody operations, risk management, and technological resilience. Her placement on the Technology and Operations and Risk committees indicates an emphasis on strengthening digital infrastructure and cyber/operational risk oversight.