State Street has appointed Ron O’Hanley (pictured) as president of the investment services business, effective 1 January 2024. He will replace Louis Maiuri, who will retire from the company in early 2024.
Reporting to O’Hanley, Mostapha Tahiri will assume the role of chief operating officer for State Street and Joerg Ambrosius will oversee the business’s client-facing activities. They join Donna Milrod, executive vice president and chief product officer, and John Plansky, executive vice president and head of State Street Alpha, on the investment services division team.
O’Hanley has almost four decades of industry experience, and has been with State Street for more than seven years. Most recently he served as chairman and CEO, before which he held positions as president, chief operating officer and vice chairman.
Earlier in his career, O’Hanley held a number of senior roles at Fidelity Investments and BNY Mellon.
Tahiri has more than 20 years of industry experience, and currently serves as executive vice president and head of APAC, the Middle East and North Africa at State Street. Before joining the firm, he spent 14 years with BNP Paribas Securities Services in several high-level roles.
O’Hanley says: “Lou has expanded the client base for our core foreign exchange and securities finance services and driven innovation in our global markets business. [He] has been central to managing our operational and technology resiliency enhancements, which are critical elements of our service offerings and a focal point for our clients and regulators.
“This group of executives will continue to execute and deliver upon our investment services strategy and our financial goals. Together with the other business leaders, 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.”
Maiuri comments: “In my next stage, I intend to explore the new opportunities being created by the confluence of technology and finance. I remain a shareholder with great confidence in State Street’s strategy and the team that will execute it. I look forward to watching State Street thrive and grow.”
