Pete Cherecwich serves as the President of Northern Trust Asset Servicing where he oversees 10,000 employees and multiple business lines. From this position, he has a unique perspective on the asset management business. In this episode, Pete provides background on the evolution of the asset servicing business from custodian to fund administration and to outsourced services such as data analytics and trading. He also provides his views on the future of the buy side firm and what he sees as the inevitable trend toward the core functions of portfolio management and distribution. In between, he shares some thoughts on how to grow and successfully manage a 10,000 employee organization. To learn more about Pete, Northern Trust Asset Servicing, and Pete's industry blog called "Face Value," please see his page on the Northern Trust website.