Northern Trust Names Industry Veteran Peter Sanchez as CEO of Northern Trust Hedge Fund Services

CHICAGO--(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) announced today that R. Peter Sanchez will serve as Chief Executive Officer of Northern Trust Hedge Fund Services LLC upon the closing of Northern Trust’s acquisition of Omnium LLC, a leading hedge fund administrator. 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.

“Peter’s leadership of Northern Trust Hedge Fund Services will provide continuity for clients as we combine Omnium’s highly regarded hedge fund services with Northern Trust’s global custody and fund administration capabilities in markets around the world,” said Peter Cherecwich, head of Global Fund Services at Northern Trust. “Clients will benefit from Peter’s 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 Trust’s 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. Northern Trust Hedge Fund Services will offer world-class, scalable technology and dedicated expertise to serve hedge funds and large institutional investors with complex portfolios. The business will provide comprehensive administrative and middle office services including trade processing, valuation, real-time reporting, cash management, accounting, collateral management and investor servicing, all linked with Northern Trust's premier custody products.

As Global Head of Business Development and Client Service for Omnium, Sanchez led a strong increase in new clients and assets under administration since July 2010. Prior to Omnium, he held roles as chief executive officer for OpHedge Investment Services and as head of capital markets and prime broker operations at Royal Bank of Canada.

“I am excited to have the opportunity to lead Northern Trust Hedge Fund Services,” said Peter Sanchez. “The integration of Omnium’s specialized capabilities with Northern Trust’s 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.”

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 March 31, 2011, Northern Trust had assets under custody of US$4.4 trillion, and assets under investment management of US$662.2 billion. For more than 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.

The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia-Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.

• The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
• Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.
• Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
• Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Central Bank of Ireland.
• Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
• Northern Trust Global Investments Limited has a Netherlands branch which is authorised by the Financial Services Authority and subject to regulation in The Netherlands by the Autoriteit Financiële Markten.
• Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
• Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
• Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
• Northern Trust Global Investments Limited has a Sweden branch which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen.
• Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
• The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
• Northern Trust operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority and the Australian Securities & Investments Commission (AFS Licence No: 314970).
• The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
• The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
• The Northern Trust Company has a branch in China regulated by the China Banking Regulatory Commission.
• Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.

Northern Trust Corporation
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Source: Northern Trust Corporation