R. Peter Sanchez Named CEO of Northern Trust Hedge Fund Services

R. Peter Sanchez has been named CEO of Northern Trust Hedge Fund Services. Sanchez joins the firm from Omnium, which was acquired by Northern Trust in mid-May. He will assume the CEO position once the deal has officially closed, which is expected to happen in the third quarter of this year. Sanchez has also held roles at OpHedge Investment Services and at Royal Bank of Canada.

Omnium is a hedge fund administrator that was previously owned by Citadel. Northern Trust Hedge Fund Services will operate as a division of Northern Trust's Global Fund Services unit. Hedge Fund Services will be responsible for administrative and back-office services for functions such as trade processing, valuation, real-time reporting, cash management, accounting, collateral management and investor servicing.

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