29. Peter Cherecwich
President, Corporate & Institutional Services
Northern Trust Corp.
Last year: PNR
Lots of words have been expended on blockchain predictions and punditry, but none quite like those in a recent commentary by Peter Cherecwich, “A Dream of the ‘90s Lives On: What GSTPA Teaches Us About Blockchain.” Northern Trust Corp.'s president of corporate and institutional services (C&IS) concedes that “you have to be over 50" to have any recall of the Global Straight Through Processing Association, which attempted to standardize communications among fund managers, brokerages, and custodians. Cherecwich, 52, thinks GSTPA set a useful precedent. Although the group disbanded in 2002, unable to overcome political and economic obstacles, “there is an unmistakable correlation between the GSTPA’s central matching engine concept and the current focus on building common and instantaneous shared transaction records,” Cherecwich wrote in the article, posted in May at Pensions & Investments online. Promoted to his current position in January after two years as president of C&IS Americas and seven years heading Global Fund Services, Cherecwich is actively involved in blockchain strategy as an outgrowth of the technology-driven nature of his business. Northern Trust, which has $7.1 trillion in assets under custody and $1 trillion in assets under management, “is a relationship company that operates in a technological environment,” says Cherecwich, who joined the Chicago-based organization in 2007 from State Street Corp.
The 2017 Tech 40
1. Adena Friedman 2. Catherine Bessant 3. Robert Goldstein 4. Jeffrey Sprecher 5. Lance Uggla |
6. Shawn Edwards & Vlad Kliatchko 7. David Craig 8. Michael Spencer 9. Don Callahan 10. Elisha Wiesel |
11. Michael Bodson 12. Terrence Duffy 13. Charles Li 14. Sean Belka 15. Chris Concannon |
16. Guy Chiarello 17. Steven Lieblich 18. David Rutter 19. Blythe Masters 20. Alfred Spector |
21. Neil Katz 22. Lee Olesky 23. Richard McVey 24. David Gledhill 25. Seth Merrin |
26. Antoine Shagoury 27. Peter Brown & 28. Lou Eccleston 29. Peter Cherecwich 30. Mike Chinn |
31. Chris Corrado 32. Neal Pawar 33. Gary Norcross 34. Steven O’Hanlon 35. Sebastián Ceria |
36. Brian Conlon 37. Tyler Kim 38. Michael Cooper 39. Robert Schifellite 40. Jim Minnick |
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