Middle and back office administrator OpHedge Investment Services, LLC has named Peter Sanchez as its new CEO.
Sanchez joins OpHedge from Royal Bank of Canada, where he most recently served as global head of Capital Markets Securities Wholesale Operations. In that position, Sanchez managed 1700 operations professionals in the US, Canada, Europe and Asia, whilst having direct responsibility for fixed income and MBS operations, all derivatives and structured products operations, mutual funds operations, shareholder and fund accounting, loan operations, and US and Canadian brokerage operations.
Sanchez’ prior employment during his twenty-one year operations career included senior management positions in operations at Greenwich NatWest/Greenwich Capital and Salomon Brothers.
OpHedge directors Myron Scholes, chairman of Platinum Grove Asset Management, and Eddy Zuaiter, COO of Soros Fund Management, co-headed the search effort on behalf of the OpHedge Board, and were understandably enthusiastic concerning the company’s ability to land Sanchez.
“Peter is a true operations heavyweight and a proven leader who is viewed as a star in this industry. Peter’s decision to join OpHedge is a testament to all that we have achieved since launching the business in May 2005. We now look forward to Peter helping us grow to the next level,” says Scholes.
OpHedge, which now has more than $30 billion in assets under administration, selected Sanchez following a search that began in Spring 2007, when then CEO Tom Chang announced plans to retire at year end.
“We put in place an Executive Committee comprised of senior level personnel to work with Tom. During this period OpHedge exceeded its material economic and performance benchmarks, and clearly has emerged as an industry leader in the middle and back office space,” adds Scholes.