Northern Trust 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 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 will continue to be responsible for the Channel Islands. All have experience working with Northern Trust’s GFS clients, across the globe.

Cherecwich said that these roles have been created to support the firm’s increasing client base in whichever time zone they are operating in, and is in line with firm’s 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. This new structure will ensure we are well positioned to continue to support them, locally and globally," Cherecwich said.