State Street Digital Expands Global Leadership Team
March 15 2022 - 6:30AM
Business Wire
Digital Executive Katie Richards Joins as
Global Head of Operations; Global Strategy Leader Marcus Grubb to
Serve as Global Head of Product Strategy
State Street Corporation (NYSE: STT) today announced that State
Street Digital, the firm’s dedicated digital division, has added
three veteran digital executives to its leadership team. Katie
Richards joins as global head of operations and Marcus Grubb as
global head of product. Both report to Nadine Chakar, head of State
Street Digital. Additionally, State Street announced that Derren
Selvarajah has joined as Product PMO lead for the Product Strategy
team. Selvarajah reports to Grubb.
“We are thrilled to welcome Katie, Marcus and Derren to the
State Street Digital team,” said Chakar. “All bring deep global
expertise and proven track records in driving growth and strategy
in the digital asset and crypto space, and their leadership will be
essential as we continue to expand our capabilities to serve the
growing demand for digital custody solutions. We are more committed
than ever to our mission to lead the evolution of digital markets
and help our clients stay ahead of it, and with Katie, Marcus and
Derren on board, we are even better positioned to achieve it.”
Richards, based in Zurich, will be responsible for driving the
execution of State Street Digital’s strategy and developing
sustainable and scalable operational solutions. She brings more
than 25 years of experience in developing strategy, delivering
digital products and services, building customer trust, leading
teams, and transforming operational models across business
functions. She previously served as chief executive officer of
Cyber Capital, a crypto investment management company, and before
that, held senior positions at Falcon Private Bank, UBS and Credit
Suisse. As a certified professional risk manager and process
management expert, Richards holds certificates in advanced studies
in blockchain from the University of Zurich, digital currencies
from the University of Nicosia, digital strategies for business
Columbia Business School, and holds an MSc in Shipping, Trade and
Finance from Bayes Business School in London and an MPhil in
International Relations from King’s College, University of
Cambridge.
Grubb, based in London, will be responsible for developing and
driving end-to-end product strategy for State Street Digital. He
has a proven track record in new business acquisition,
transformation, and strategic business development, and was most
recently chief executive officer of BlockEx, a provider of
white-label asset digitization and trading technology. Previously,
he served as director of market development and senior advisor for
the World Platinum Investment Council, managing director of
investment, global spokesperson and strategist for the World Gold
Council, and chief executive officer of Swapstream, a derivates
exchange system. Marcus holds a Bachelor of Arts degree in modern
history and economics from Queen's College, Oxford University.
Selvarajah, based in London, is joining as the Product PMO lead
for the Product Strategy team. He has extensive experience in
Securities Services, wholesale banking, financial markets
processing and platforms across asset classes and geographies.
Previously, he worked with Standard Chartered Bank as global head
of Securities Service Tech, Innovation, Digital Transformation and
Delivery.
Since launching in 2021, State Street Digitial has been focused
on addressing the industry’s evolving shift to digital finance.
Most recently, the Digital division announced it had entered into a
licensing agreement with Copper.co, a London-based provider of
institutional digital asset custody and trading infrastructure.
State Street Digital will leverage Copper.co’s technology to
develop and, subject to receipt of regulatory and other approvals,
launch an institutional grade digital custody offering where
clients can store and settle their digital assets within a secure
environment operated by State Street.
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
$42.6 trillion in assets under custody and/or administration and
$3.9 trillion* in assets under management as of June 30, 2021,
State Street operates globally in more than 100 geographic markets
and employs approximately 39,000 worldwide. For more information,
visit State Street's website at www.statestreet.com.
*Assets under management as of June 30, 2021 includes
approximately $64 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.
© 2022 State Street Corporation - All Rights Reserved
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Media: State Street Brendan Paul
Bpaul2@statestreet.com +1 401 644 9182
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