30-Year Industry Veteran to Lead Technology, Operations, Product and
Innovation
Strengthens State Street’s Ability to Deliver on Front-to-Back Platform
Strategy
BOSTON--(BUSINESS WIRE)--
State Street Corporation, (State Street), NYSE:STT today announced that
its board of directors has appointed Lou Maiuri, previously head of
State Street’s Global Markets and Exchange businesses, to the role of
Chief Operating Officer. In this capacity, he will have overarching
responsibility for State Street’s IT, Global Delivery, Global Exchange,
Charles River Development and Product teams. Maiuri will continue to
serve on State Street’s Management Committee and report to President and
CEO Ron O’Hanley.
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State Street Names Lou Maiuri as its Chief Operating Officer (Photo: Business Wire)
Last year, State Street brought together all of its client facing
activities including service, relationship management and sales under
the leadership of Management Committee member Andrew Erickson to enable
a more seamless client experience and consistent touchpoints across the
globe. This organization includes the newly formed Global Clients
Division led by Donna Milrod.
“Bringing together the resources that drive our operating
infrastructure, technology strategy and innovation under one leader
complements the moves we have made with our client-facing activities to
make State Street more seamless. This will also accelerate our ability
to deliver our front-to-back investment servicing platform and become a
true technology-driven scale provider,” said O’Hanley. “These priorities
reflect our commitment to solving our clients’ greatest challenges while
driving shareholder value. Lou will work in partnership with Andrew to
deliver better outcomes for our clients and the people they serve.”
Since rejoining State Street in 2013, Maiuri has held leadership roles
with increasing responsibility and was instrumental in the Company’s
recent acquisition of Charles River Development as part of its
front-to-back investment servicing platform strategy. Prior to State
Street, Maiuri held various roles at BNY Mellon including deputy chief
executive officer of asset servicing, head of the global financial
institutions group within the asset servicing business and also as a
member of the Operating Committee. Earlier in his career, Maiuri held
the roles of chief operating officer and chief executive officer of
Eagle Investment Systems LLC and worked at Fidelity Investments in both
the fixed income and equity investments divisions. More than two decades
ago he served as a vice president in technology at State Street. Maiuri
chairs State Street’s Professional Women’s Network, the company’s
largest Employee Resource Group.
“I am excited to take on this new role and lead the most transformative
parts of our company,” said Maiuri. “Focusing our resources and our
financial and human capital on a common set of priorities and towards a
common vision will accelerate our ability to succeed and strengthen our
performance and position in the marketplace. Keys to our success will be
driving greater automation, setting industry standards and enabling
continuous innovation.”
Liz Nolan, currently CEO for State Street in EMEA, will assume
responsibility for Global Delivery, managing the company’s global
operations and infrastructure that supports clients in 26 countries and
more than 100 markets worldwide. Nolan follows Jeff Conway in this role,
who is leaving State Street after a more than 30-year career. Nolan will
retain her EMEA CEO and UK responsibilities until a successor is
appointed. Karen Keenan, Chief Administrative Officer, has expanded her
responsibilities to include oversight for State Street’s Global Markets
business, having led the group earlier in her career. She will continue
to report to Ron O’Hanley.
“An early focus of mine as CEO has been to match our leadership talent
against our desire to be a high performing organization and the areas
that will create the greatest capacity and advantage for us as a firm.
These new appointments reflect this focus,” said O’Hanley. “I want to
thank Jeff Conway for what has been a remarkable career at State Street
spanning more than three decades.”
About State Street Corporation
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 $31.62 trillion in assets under custody and administration
and $2.51 trillion* in assets under management as of December 31, 2018,
State Street operates in more than 100 geographic markets worldwide,
including the US, Canada, Europe, the Middle East and Asia. For more
information, visit State Street’s website at www.statestreet.com.
*This figure is presented as of December 31, 2018 and includes
approximately $32.44 billion of assets with respect to SPDR products for
which State Street Global Advisors Funds Distributors, LLC (SSGA FD)
acts solely as the marketing agent. SSGA FD and State Street Global
Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA 02111-2900.
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 2/28/2020
Forward-Looking Statements
This News Release contains forward-looking statements within the meaning
of United States securities laws, including statements about roles and
responsibilities of specified executives and related organizational
structures, results and business outcomes. Forward-looking statements
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subsequent to the time that this News Release is first issued. Important
factors that could cause actual results to differ materially from those
indicated by any forward-looking statements are set forth in our 2018
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190227005498/en/
State Street Corporation
Brendan Paul
+1 617-943-5368
Bpaul2@statestreet.com
@StateStreet
Source: State Street Corporation