30-Year Industry Veteran to Lead Technology, Operations, Product
and Innovation
Strengthens State Street’s Ability to Deliver on Front-to-Back
Platform Strategy
State Street Corporation, (State Street), NYSE:STT today
announced that its board of directors has appointed Lou Maiuri,
previously head of State Street’s Global Markets and Exchange
businesses, to the role of Chief Operating Officer. In this
capacity, he will have overarching responsibility 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 President and CEO
Ron O’Hanley.
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State Street Names Lou Maiuri as its
Chief Operating Officer (Photo: Business Wire)
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 to enable a more seamless client experience and consistent
touchpoints across the globe. This organization includes the newly
formed Global Clients Division led by Donna Milrod.
“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. This will also
accelerate our ability to deliver our front-to-back investment
servicing platform and become a true technology-driven scale
provider,” said O’Hanley. “These priorities reflect our commitment
to solving our clients’ greatest challenges while driving
shareholder value. Lou will work in partnership with Andrew to
deliver better outcomes for our clients and the people they
serve.”
Since rejoining State Street in 2013, Maiuri has held leadership
roles with increasing responsibility and was instrumental in the
Company’s recent acquisition of 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 chief executive officer of asset servicing, head of the
global financial institutions group within the asset servicing
business and also as a member of the Operating Committee. Earlier
in his career, Maiuri held the roles of chief operating officer and
chief executive officer of Eagle Investment Systems LLC and worked
at Fidelity Investments in both the fixed income and equity
investments divisions. More than two decades ago he served as a
vice president in technology at State Street. Maiuri chairs State
Street’s Professional Women’s Network, the company’s largest
Employee Resource Group.
“I am excited to take on this new role and lead the most
transformative parts of our company,” said Maiuri. “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.”
Liz Nolan, currently CEO for State Street in EMEA, will assume
responsibility for Global Delivery, managing the company’s global
operations and infrastructure that supports clients in 26 countries
and more than 100 markets worldwide. Nolan follows Jeff Conway in
this role, 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. She will continue to report to Ron
O’Hanley.
“An early focus of mine as CEO has been to match our leadership
talent against our desire to be a high performing organization and
the areas that will create the greatest capacity and advantage for
us as a firm. These new appointments reflect this focus,” said
O’Hanley. “I want to thank Jeff Conway for what has been a
remarkable career at State Street spanning more than three
decades.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $31.62 trillion in assets
under custody and administration and $2.51 trillion* in assets
under management as of December 31, 2018, State Street operates in
more than 100 geographic markets worldwide, including the US,
Canada, Europe, the Middle East and Asia. For more information,
visit State Street’s website at www.statestreet.com.
*This figure is presented as of December 31, 2018 and includes
approximately $32.44 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 2/28/2020
Forward-Looking Statements
This News Release contains forward-looking statements within the
meaning of United States securities laws, including statements
about roles and responsibilities of specified executives and
related organizational structures, results and business outcomes.
Forward-looking statements are often, but not always, identified by
such forward-looking terminology as “will,” “"priority,"
“objective,” “plan,” “strategy,” “expect,” “believe,” “anticipate,”
“intend,” “estimate,” “seek,” “may,” “trend,” and “goal,” or
similar statements or variations of such terms. These statements
are not guarantees of future performance, are inherently uncertain,
are based on current assumptions that are difficult to predict and
involve a number of risks and uncertainties. Therefore, actual
outcomes and results may differ materially from what is expressed
in those statements, and those statements should not be relied upon
as representing our expectations or beliefs as of any time
subsequent to the time that this News Release is first issued.
Important factors that could cause actual results to differ
materially from those indicated by any forward-looking statements
are set forth in our 2018 Annual Report on Form 10-K and our
subsequent SEC filings. We encourage investors to read these
filings, particularly the sections on risk factors, for additional
information with respect to any forward-looking statements and
prior to making any investment decision. The forward-looking
statements contained in this News Release should not by relied on
as representing our expectations or beliefs as of any time
subsequent to the time that this News Release is first issued, and
we do not undertake efforts to revise those forward-looking
statements to reflect events after that time.
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State Street CorporationBrendan Paul+1
617-943-5368Bpaul2@statestreet.com@StateStreet
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