State Street has hired Jeff Conway to lead an organisation that deals with clients’ data information and trading challenges.
The solution, called Global Exchange, reorganises existing components from State Street’s research and advisory, analytics, Currenex, Global Link and derivatives clearing capabilities into one single organisation.
Conway, executive vice president with 25 years experience, will report to Jack Klinck, a member of State Street’s management committee and head of global strategy and new ventures.
Klinck said: "Our goal is to support our clients’ trade lifecycle from investment decision to post-trade administration, minimising trading and operational costs.”
“In a survey we conducted last year with the Economist Intelligence Unit, the issue of data integration was at the forefront of clients’ operational challenges. Nearly half (46 percent) of asset owners rated their ability to achieve a comprehensive look-through of their portfolio across all security types and investment structures as less than good,” said Conway.
“And over the next three years, almost two-thirds (63 percent) of asset owners surveyed expected their data management challenges to increase. We believe we are assembling the right combination of technology, expertise and platforms to help solve these challenges.”
