State Street shakes up leadership structure as senior executive announces retirement

investmentnews.com:

State Street has announced some changes to its leadership structure as current president, chief operating officer, and head of Investment Services Louis D. Maiuri prepares for retirement.

From January 1, 2024, Ron O’Hanley, the firm’s chairman and CEO will take on the additional responsibility as president of Investment Services, which is the firm’s largest business, while the COO role will be filled by Mostapha Tahiri, currently head of Asia Pacific, Middle East and North Africa, who has more than 25 years of asset management and investment management experience.

Client facing activities of Investment Services will be led by Joerg Ambrosius, executive vice president and chief commercial officer, who is also chair of State Street International Holdings, and will assume full responsibility for the international organization.

Along with Donna Milrod, executive vice president and chief product officer, and John Plansky, executive vice president and head of State Street Alpha, Tahiri and Ambrosius will report directly to O’Hanley.

The firm says the changes to the organizational structure will enable State Street to position the Investment Services business for long-term success.

“This group of executives will continue to execute and deliver upon our Investment Services strategy and our financial goals,” said O’Hanley. “Together with the other business leaders, including Eric Aboaf, vice chairman, chief financial officer and head of our Markets and Financing business, and Yie-Hsin Hung, president and chief executive officer of State Street Global Advisors, I am confident that we continue to have an industry leading team that can achieve our strategic goals and deliver value to our clients and investors.”

O’Hanley paid tribute