Asset Servicing Expert
Head of Banking & Treasury Services
Peter is an Executive Vice President at the Northern Trust Company and serves as Head of Banking & Treasury Services, a global division which was formed under Peter’s leadership in 2022 to bring together business in Global Banking, Benefit Payments, Treasury Management, Corporate & Institutional Lending as well as Cash Operations to meet the evolving needs across banking, lending, payments and treasury for Northern Trust and its clients. Banking & Treasury Services (BTS) offers a compelling, holistic market offering that combines the expertise of our global client teams with the inherent financial strength and security of Northern Trust. BTS has annual revenue of ~$400MM and a diverse staff of >800 partners worldwide in 8 countries.
Prior to his current role, Peter most recently served as the Chairman and CEO of Northern Trust International Banking Corporation (TNTIBC) which provides international banking, global payments and deposit taking for Financial Institutions, Fund Administrators and others across Private Capital and Alternative Funds. Peter also served as Head of Northern Trust Alternative Fund and Omnium Business Services (NTAFOBS), a business he led from its acquisition in 2011 through 2020 during which the business more than tripled in size to $400+ billion in assets under administration.
Prior to the acquisition by Northern Trust from Citadel, Peter served as Omnium’s Global Head of Business Development and Client Service, responsible for all new business sales and client relationships.
With over 30 years of industry experience, Peter has held various executive and management positions in business development, client service and operations, including as CEO of OpHedge Investment Services, Global Head of Operations and Prime Brokerage for Royal Bank of Canada (RBC) Capital Markets, and Global Head of Operations for Greenwich NatWest. He began his career at Salomon Brothers, where he held several positions in operations management.
Peter received a BA degree in Economics from Princeton University.
Peter's Insights & Research
Technological advancement has many benefits, but secure and instantaneous cross-border payments are high on the list of goals.
As alts managers plot their COVID comebacks, committing to an asset class expansion requires thorough reflection.
How diversifying into new asset classes raises opportunities and challenges.
Optimizing operational efficiency and collateral and cash management can be significant competitive differentiators.