Peter Schenck has joined Northern Trust Asset Management as a Senior Liquidity Specialist, a new role focused on expanding delivery of leading liquidity management solutions to institutional clients. A 26-year investment management industry veteran, Schenck joins from BlackRock, where he was a Director in the cash management group specializing in working with institutional investors. Based in Chicago, Schenck will focus on creating customized investment solutions for large clients in the corporate, insurance and not-for-profit segments. "As one of the world's largest cash managers, Northern Trust offers a wide range of efficient and innovative liquidity solutions," said Jason Tyler, Executive Vice President and Global Head of the Institutional Group at Northern Trust Asset Management. "The foundation of our success has been the ability to understand and serve the unique cash management needs of various types of institutional investors. Pete's fixed income experience and track record of enhancing client relationships makes him perfectly suited to help us deliver compelling and thoughtfully constructed liquidity solutions for our clients." Northern Trust has approximately $240 billion in assets under management in a range of short-duration fixed income strategies for institutional and retail investors. In addition to a roster of prime, municipal and government money market funds, Northern Trust offers global cash and ultra-short bond vehicles, as well as exchange-traded funds. Amidst regulatory change and market uncertainty, Northern Trust clients continued to add short-duration assets ahead of the Oct. 14, 2016 implementation of new U.S. Securities and Exchange Commission regulations governing money market funds. "Our conservative philosophy and disciplined investment process have resonated with investors in this very low interest rate environment," said Colin Robertson, Managing Director of Fixed Income at Northern Trust Asset Management. "We have positioned our product offerings to capture our lower for longer investment and interest rate views and provide clients with leading liquidity solutions."