R. Peter Sanchez will serve as CEO of Northern Trust Hedge Fund Services LLC upon the closing of Northern Trusts acquisition of hedge fund administrator Omnium.
Sanchez currently is global head of business development and client service for Omnium and has more than two decades of experience as an executive in capital markets and complex operational businesses.
Peters leadership of Northern Trust Hedge Fund Services will provide continuity for clients as we combine Omniums highly regarded hedge fund services with Northern Trusts global custody and fund administration capabilities in markets around the world, says Peter Cherecwich, head of Global Fund Services at Northern Trust. Clients will benefit from Peters industry leadership and expertise and his commitment to maintain the superior service for which both firms have been recognized.
Northern Trust Hedge Fund Services will operate as a division of Northern Trusts Global Fund Services business following the acquisition of Omnium from Chicago-based Citadel LLC. The acquisition is expected to close in the third quarter of 2011.
I am excited to have the opportunity to lead Northern Trust Hedge Fund Services, Sanchez says. The integration of Omniums specialized capabilities with Northern Trusts global operations and technology platform will provide an exceptionally attractive offering for hedge funds and institutional investors looking for greater transparency, accountability and efficiency by outsourcing middle and back office functions.
(CG)