Boston Financial Data Services / DST Systems Implement Succession Plans
February 26 2009 - 7:51PM
PR Newswire (US)
Industry Veterans Promoted QUINCY, Mass., Feb. 26 /PRNewswire/ --
Boston Financial Data Services, Inc. (Boston Financial), a 50
percent owned joint venture of DST Systems, Inc. (DST) and State
Street Corporation (State Street), announced today that Stephen C.
Hooley, chief executive officer and president, will join DST as
president and chief operating officer on July 1, 2009, reporting to
Thomas A. McDonnell, chief executive officer of DST. He succeeds
Thomas C. McCullough, who has announced his plans to retire
effective December 31, 2009. Terry L. Metzger, currently chief
operating officer of Boston Financial, will succeed Mr. Hooley. For
more than 21 years, Mr. McCullough has played an integral role in
both leading DST and in the success of Boston Financial. He has
built strong management teams that will continue to provide the
high level of service that distinguishes DST and Boston Financial
in the marketplace. Mr. McCullough will continue to serve on the
boards of DST and Boston Financial, where he will also serve as a
director and chairman of the Boston Financial Audit Committee. Mr.
Hooley joined Boston Financial as president and chief executive
officer in January 2004 and has held several executive roles with
International Financial Data Services, LP (IFDS) since 2005. IFDS
is a 50 percent owned joint venture of DST and State Street located
in Canada, the United Kingdom, Luxembourg and Ireland. Mr. Hooley
will continue his involvement with IFDS and assume Mr. McCullough's
role as chairman of Boston Financial. Mr. Hooley has managed both
domestic and international businesses within the financial services
industry for more than 20 years, with an emphasis on strategic
projects and business development. Prior to joining Boston
Financial, Mr. Hooley held a number of senior executive roles at
State Street. During his tenure at State Street, Mr. Hooley held
roles in Institutional Investor Servicing and information
technology, and managed the integration of the Global Securities
Services business acquired from Deutsche Bank in 2002. As chief
operating officer, Mr. Metzger has led Boston Financial through a
period of unprecedented growth in its client base over the past
five years. Before joining Boston Financial, Mr. Metzger held
leadership positions at DST, where his responsibilities included
managing mutual fund customer relationships. Mr. Metzger's
extensive knowledge of large-scale client operations and his
industry expertise will continue to enhance the product offerings
and value proposition for Boston Financial's customers.
"Understanding not only the business needs of clients but also
delivering a breadth and depth of technology platforms and services
is essential to servicing the needs of the financial services
marketplace," said Mr. Metzger. "I am excited to continue in a
leadership role for the Boston Financial organization. Our focused,
strategic commitment to this industry offers clients a wealth of
expertise and service delivery systems. I look forward to building
upon Boston Financial's industry leading position." About Boston
Financial: Boston Financial Data Services is one of the industry's
premier third-party transfer agents and has been servicing the
mutual fund industry since 1973. Boston Financial is a joint
venture between DST Systems, Inc. of Kansas City, Mo., and State
Street Corporation of Boston, Mass. This joint venture has enabled
Boston Financial's clients to utilize DST's industry-leading
software and technology while benefiting from the institutional
support and global reach of State Street. For more information,
visit Boston Financial's web site at
http://www.bostonfinancial.com/. About DST Systems: DST Systems,
Inc. (NYSE:DST) provides sophisticated information processing and
computer software products and services to support the mutual fund,
investment management, insurance and healthcare industries. In
addition to technology products and services, DST provides
integrated print and electronic statement and billing output
solutions through a wholly owned subsidiary. DST's world-class data
centers provide technology infrastructure support for mutual fund
companies, healthcare providers, banks, mortgage bankers and
insurance companies around the globe. DST is headquartered in
Kansas City, Mo., and is a publicly traded company on the New York
Stock Exchange. For more information, visit DST's web site at
http://www.dstsystems.com/. About State Street: State Street
Corporation (NYSE:STT) is the world's leading provider of financial
services to institutional investors, including investment
servicing, investment management and investment research and
trading. With $12 trillion in assets under custody and $1.4
trillion in assets under management at December 31, 2008, State
Street operates in 27 countries and more than 100 geographic
markets worldwide. For more information, visit State Street's web
site at http://www.statestreet.com/. DATASOURCE: Boston Financial
Data Services, Inc. CONTACT: Ann Marie Mierzykowski of Boston
Financial Data Services, Inc., +1-617-483-2371, Web Site:
http://www.bostonfinancial.com/
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