BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT), one of the world’s leading
providers of financial services to institutional investors, today
announced the appointment of Executive Vice President Nicholas (Nick)
Bonn, to head its securities finance business. Bonn, an 18-year veteran
of State Street, will report to David Puth, executive vice president and
head of State Street’s Global Markets business.
State Street’s Securities Finance business covers 32 equity markets and
21 fixed income markets for approximately 450 clients from more than 30
countries. With nearly $2.3 trillion in lendable assets and more than
$400 billion in average assets on loan (as of March 31, 2010), the team
has trading relationships with 89 of the top 100 global investment
managers and operates trading desks in Boston, Hong Kong, London,
Sydney, Tokyo and Toronto.
Bonn, age 49, has held a variety of leadership positions throughout his
career at State Street, including responsibility for establishing State
Street’s broker/dealer subsidiaries in the US, Canada, Japan and the UK.
He managed State Street’s equity trading and transition management
businesses for 17 years during which time the company became one of the
largest transition managers in the world. Bonn most recently served as
global head of sales and client development for State Street Global
Markets.
“Nick has a wide range of experience across State Street, having worked
in senior capacities across many of our high-growth businesses during
his nearly two decades with the company. He combines extensive
relationships with our clients and the consultant community with a deep
understanding of the key facets of the securities industry,” said Puth.
“Nick, together with a strong and deeply tenured leadership team, is
well placed to deliver our clients the securities finance solutions they
require in today’s dynamic market environment.”
Underscoring its commitment to further advancing solutions for its
securities finance clients, State Street also announced today the
appointments of Doug Stern and Yvonne Wong to its Enhanced Custody
business, the servicing solution for long/short strategies. Launched in
2008 as a natural extension of State Street’s current securities finance
offering, Enhanced Custody was developed in direct response to clients’
need for more efficient and streamlined ways to service long/short and
leveraged strategies.
Stern joins as senior managing director and head of Global Business
Development and Client Service for Enhanced Custody and Wong joins as
managing director and head of business development for Asia Pacific. The
full-service Enhanced Custody solution provides clients with the ability
to engage in direct borrowing and financing from their own long
positions.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading
providers of financial services to institutional investors, including
investment servicing, investment management, and investment research and
trading. With $19 trillion in assets under custody and administration
and $1.9 trillion in assets under management at March 31, 2010, State
Street operates in 25 countries and more than 100 geographic markets
worldwide. For more information, visit State Street at www.statestreet.com.
Source: State Street Corporation
Contact:
State Street Corporation
Carolyn Cichon, 617-664-8672
or
Alicia
Curran Sweeney, 617-664-3001