David Wayne Fox

David (Dave) Wayne Fox, retired Chairman and Chief Executive Officer of Northern Trust Corporation, passed away peacefully, surrounded by family in Sea Island, Georgia on November 29, 2025, at the age of 94.

Born on August 29, 1931, in Aurora, Illinois, Dave was the son of the late Wayne and Helen (Lynch) Fox of West Chicago, Illinois. He touched the lives of many with his generosity of spirit, profound sense of humor, and steadfast commitment to his family and community. Dave graduated from the University of Notre Dame in 1953 and earned his MBA from the University of Chicago in 1958. He served as an officer in the United States Marine Corps from 1953 to 1955 and continued his service in the Marine Corps Reserves until the 1970s, ultimately retiring as a Lieutenant Colonel after commanding two reserve squadrons for Marine Corps Air Stations: Headquarters and Headquarters Squadron (H&HS-48) and Marine Air Control Squadron (MACS-22).

Dave began his 40-year career at Northern Trust in 1955 where he met Mary (“Mike”) Evans of Glen Ellyn, Illinois. They were married in 1956, raised a family with four children, and recently celebrated their anniversary of 69 years together. In 1972, the family moved to London, England, where Dave served as Senior Vice President and Manager of the Northern Trust branch, returning to the United States in 1975. His family looks back on those years in London as a memorable time of new experiences and travel together.

At Northern Trust, Dave rose through the ranks to become CEO in 1989 and Chairman in 1990. Under his leadership, the company expanded nationally, doubled its Florida office presence, and invested heavily in technology and strategic acquisitions. He was instrumental in opening the Canal Street operations center, which featured Chicago’s first company-run child care center. He was known for his unwavering commitment to six guiding principles: delivering exceptional service, growing fee-based business, focusing on niche markets, preserving asset quality, maintaining a conservative balance sheet, and developing strong leadership.

Beyond his professional achievements, Dave was deeply committed to civic and philanthropic causes. He served on numerous boards, including the Federal Reserve Bank of Chicago, the Chicago Stock Exchange, USG Corporation, Northwestern Memorial Hospital, the Chicago Symphony Orchestra, DePaul University, and the Adler Planetarium. He and his wife Mike established scholarships at the University of Chicago Booth School of Business for U.S. military veterans and at Notre Dame for undergraduates.

In Georgia, Dave and Mike were active supporters of the Coastal Georgia Historical Society and contributed to the Glynn County United Way. They were members of the Live Oak Society of the St. Simons Land Trust and supported its conservation efforts. They also contributed to the Golden Isles Arts and Humanities Association and were members of the Golden Isles Chapter of the Military Officers Association of America.

Dave was an avid tennis player and fisherman, known for his playful spirit and musical talent—often entertaining friends and family with humorous songs that he wrote. For the better part of 40 years, he treasured summers at the family’s vacation home in Green Lake, Wisconsin, where Dave and Mike hosted joyful gatherings filled with laughter, music, and memories that spanned generations.

He is survived by his beloved wife Mary “Mike”; their children David Jr. (Alexandra), Kate (Ryan), and Tom (Jen); ten grandchildren Ben, Declan and Fox, Emma, Isabelle and Charlie, Fisher and Eli, Baker and Rae; and four great-grandchildren Willa, Skylar, Rosie and Liam. He was preceded in death by his eldest daughter Susan (formerly married to Matt), who passed away in 2012. Her memory remained a cherished part of his life, and he often spoke of her with deep love and pride.

Dave’s legacy lives on in the lives he touched and the institutions he helped shape. On Friday April 10th, a Celebration of Life will be held at 11:00 am at St. John of the Cross, Western Springs, Illinois, with reception to follow.

In lieu of flowers, the family requests donations be made to Georgia Hospice Care.