State Street has appointed Lou Maiuri to the role of COO.
Maiuri, who previously served as head of its global markets and exchange businesses, will be responsible 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 State Street’s president and CEO, Ron O’Hanley.
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.
This organisation includes the newly formed global clients division led by Donna Milrod.
Since rejoining State Street in 2013, Maiuri has held leadership roles with increasing responsibility and helped acquire 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 CEO of asset servicing, head of the global financial institutions group within the asset servicing business and also as a member of the operating committee.
In addition, Liz Nolan, currently CEO for State Street in Europe, the Middle East and Africa (EMEA), will assume responsibility for global delivery, managing the company’s global operations and infrastructure.
Nolan replaces Jeff Conway 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.
Keenan will continue to report to Ron O’Hanley.
O’Hanley said: “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.”
He added: “An early focus of mine as CEO has been to match our leadership talent against our desire to be a high performing organisation and the areas that will create the greatest capacity and advantage for us as a firm. These new appointments reflect this focus. I want to thank Jeff Conway for what has been a remarkable career at State Street spanning more than three decades.”
Commenting on his new role, Maiuri said: “I am excited to take on this new role and lead the most transformative parts of our company.”
He added: “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.”
