Deals & People November 22, 2010

Northern Trust Names New Head of Fund Services

Northern Trust has appointed Peter Cherecwich as head of Global Fund Services (GFS).
Reported by

GFS 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 Chief Operating Officer (COO) for Northern Trust’s Corporate & Institutional Services division.   

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According to a press release, Northern Trust has also 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; and Dan Houlihan will assume responsibility for the Americas. Vic Holmes continues to be responsible for the Channel Islands.   

All have experience working with Northern Trust’s GFS clients across the globe, the announcement said.
Products November 22, 2010

SAM and Dow Jones to Launch World Enlarged Index

Sustainable Asset Management (SAM) and Dow Jones Indexes announced the creation of the Dow Jones Sustainability World Enlarged Index (DJSI World Enlarged).
Reported by

The new index will be launched on November 30, 2010, and is designed to accommodate increasing investor demand for a broader sustainability benchmark. As such, the DJSI World Enlarged tracks the performance of the most sustainable 20% of companies out of the largest 2,500 companies in the Dow Jones Global Total Stock Market Index.  

According to the announcement, the components for the DJSI World Enlarged are selected according to SAM’s systematic Corporate Sustainability Assessment, which analyzes company performance in terms of economic, environmental and social criteria. The new index has 513 components, is reviewed on an annual basis, and is weighted according to free float market capitalization.   

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Additionally, there will be a subset index of 459 components that excludes companies from the following sectors: tobacco, alcohol, gambling, armament and firearms, and adult entertainment. 

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