tapped Dan Houlihan
as head of global fund services for the Americas. Houlihan's post is one of three newly created roles within Northern Trust's fund services business.
The two others stepping into newly created posts are Toby Glaysher
, who now serves as head of GFS for Ireland, Luxembourg and the UK and Jennifer Driscoll
, now head of GFS for the Asia-Pacific region.
The creation of the three posts comes as the GFS business at Northern Trust appointed a new leader for the unit. Northern Trust tapped Peter Cherecwich
as the new head of global fund services, replacing Wilson Leech, who is now CEO for Northern Trust's Europe, Middle East and Africa region.
In a news release, Cherewich said the creation of the three new regional posts was done to "support our increasing client base in whichever time zone they are operating in, and is in line with our global strategy for growth."
"As new regulations come into effect in markets across the world, we are seeing an increasing demand from our clients for solutions and services that can accommodate their changing requirements," he added. "This new structure will ensure we are well positioned to continue to support them, locally and globally."
Company Press Release
Northern Trust names Peter Cherecwich as head of Global Fund Services unit
Regional directors appointed to support continuing growth
CHICAGO, November 22 2010 – Northern Trust announced today that it has appointed Peter Cherecwich as head of Global Fund Services (GFS) – the business that delivers fund administration, investment operations outsourcing and asset servicing solutions to investment management firms across the globe.
Cherecwich, who is based in Chicago, replaces Wilson Leech, who has been named CEO for Northern Trust’s Europe, Middle East, and Africa region. In addition to his new role leading the GFS group, Cherecwich will maintain his responsibilities as Chief Operating Officer (COO) for Northern Trust's Corporate & Institutional Services division.
In line with the group's continuing growth, Northern Trust has created three new regional roles within GFS. Toby Glaysher has been named head of GFS for Ireland, Luxembourg and the UK; Jennifer Driscoll has been appointed head of GFS for the Asia-Pacific region in addition to COO for GFS, while Dan Houlihan will assume responsibility for the Americas. Vic Holmes continues to be responsible for the Channel Islands. All have experience working with Northern Trust's GFS clients, across the globe.
"These roles have been created to support our increasing client base in whichever time zone they are operating in, and is in line with our global strategy for growth," said Cherecwich. "As new regulations come into effect in markets across the world, we are seeing an increasing demand from our clients for solutions and services that can accommodate their changing requirements. This new structure will ensure we are well positioned to continue to support them, locally and globally."
Northern Trust's Global Fund Services unit provides fund administration and investment operations outsourcing solutions to more than 400 asset managers across the globe. It supports multiple fund structures across multiple domiciles and jurisdictions and has expertise in traditional and alternative investment vehicles.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2010, Northern Trust had assets under custody of US$3.9 trillion, and assets under investment management of US$657.2 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.
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