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The 2017 Tech 40: Peter Cherecwich

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
Bank of
America Corp.
3. Robert Goldstein
4. Jeffrey Sprecher
Intercontinental Exchange
5. Lance Uggla
IHS Markit
6. Shawn Edwards & Vlad Kliatchko
7. David Craig
Thomson Reuters
8. Michael Spencer
NEX Group
9. Don Callahan
10. Elisha Wiesel
Goldman Sachs Group
11. Michael Bodson
Depository Trust & Clearing Corp.
12. Terrence Duffy
CME Group
13. Charles Li
Hong Kong Exchanges and Clearing
14. Sean Belka
Fidelity Investments
15. Chris Concannon
CBOE Holdings
16. Guy Chiarello
First Data Corp.
17. Steven Lieblich
18. David Rutter
19. Blythe Masters
Digital Asset Holdings
20. Alfred Spector
Two Sigma Investments
21. Neil Katz
D.E. Shaw Group
22. Lee Olesky
Tradeweb Markets
23. Richard McVey
MarketAxess Holdings
24. David Gledhill
DBS Bank
25. Seth Merrin
Liquidnet Holdings
26. Antoine Shagoury
State Street Corp.
27. Peter Brown &
Robert Mercer
Renaissance Technologies
28. Lou Eccleston
TMX Group
29. Peter Cherecwich
Northern Trust Corp.
30. Mike Chinn
S&P Global Market Intelligence
31. Chris Corrado
London Stock Exchange Group
32. Neal Pawar
AQR Capital Management
33. Gary Norcross
Fidelity National Information Services
34. Steven O'Hanlon
35. Sebasti√°n Ceria
36. Brian Conlon
First Derivatives and Kx Systems
37. Tyler Kim
38. Michael Cooper
BT Radianz
39. Robert Schifellite
Broadridge Financial Solutions
40. Jim Minnick

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