State Street Corporation has appointed Jörg Ambrosius and Mike Fontaine as co-heads of global services for Europe, the Middle East and Africa (EMEA).
This follows the promotion of Liz Nolan to CEO, EMEA and the upcoming departure of Susan Dargan, who has stepped down to pursue personal interests.
Ambrosius, who most recently held the title of head of sector solutions, EMEA, will remain based in Munich; while Fontaine, who was previously held the title executive vice president, US investor services, has relocated from Boston to Dublin.
Ambrosius will assume responsibility for State Street’s global exchange, investment manager services and alternative investment solutions businesses in the region.
Fontaine will oversee the international financial data services service delivery for State Street.
Ambrosius and Fontaine will report to Nolan, as well as to Andrew Erickson, head of the global services business worldwide.
As co-heads, Ambrosius and Fontaine will continue to drive and execute State Street’s servicing strategy for the domestic markets in the region, with Ambrosius focused on onshore and Fontaine focused on offshore markets.
Erickson said: “Jörg Ambrosius and Mike Fontaine have held various senior client-focused, risk management and operational positions in financial services for more than four decades combined.”
He added: “Both have proven track records for managing delivery to some of our largest and most complex global clients, and we’re confident they will continue to add tremendous value to our business.”
Nolan commented: “The EMEA region is a key contributor to the global State Street franchise. The appointments of Ambrosius and Fontaine will further strengthen our presence within the region which, when combined with our global footprint and ongoing investment in technology and innovation, will enable us to deliver the whole of the firm to support the needs of our clients.”
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