Senior vice president Paul Fleming will take over from Lou Maiuri to lead the securities finance group at State Street.
State Street has looked in-house for the new head of its global exchange business and appointed Lou Maiuri to the role.
In his new role, Fleming will be responsible for the global strategic direction and operations of both the agency and principal lending programmes, and will report to Karen Keenan, executive vice president.
Current head of securities finance Maiuri, who has 25 years of experience in technology and financial services, will report directly to Mike Rogers, president and COO of State Street, in his new role.
Prior to joining State Street in October 2013, Maiuri served in various roles at BNY Mellon, including deputy CEO of asset servicing, and head of the global financial institutions group within the asset servicing business.
Rogers commented: “Having led our securities finance and investment management servicing businesses, Maiuri has a keen understanding of the needs of our buy-side clients.”
Maiuri commented: “As our entire industry continues to adapt to disruptive elements, it is increasingly important to use data and analytics for insights and focus on execution.”
“I’m committed to not only capturing new ideas that will help us innovate rapidly, but also to strengthening the information and technology advantage we already have in place to deliver additional front-office solutions for the buy-side.”
