BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that it has named Jeff Conway to lead an organization dedicated to developing solutions to address clients’ data information and trading challenges. Global Exchange reorganizes existing components from State Street’s research and advisory, analytics, Currenex, Global Link® and derivatives clearing capabilities into one organization focused on providing clients with easier access to solutions and accelerating new product development. Conway, executive vice president and 25-year industry veteran will report to Jack Klinck, a member of State Street’s Management Committee and head of global strategy and new ventures.
“Driven by regulatory reform, complexity and transparency, clients want access to real-time data and analytics to better inform their investment and trading decisions,” said Klinck. “Our goal is to support our clients’ trade lifecycle from investment decision to post-trade administration, minimizing trading and operational costs.”
“In a survey we conducted last year with the Economist Intelligence Unit, the issue of data integration was at the forefront of clients’ operational challenges. Nearly half (46 percent) of asset owners rated their ability to achieve a comprehensive look-through of their portfolio across all security types and investment structures as less than good,” said Conway. “And over the next three years, almost two-thirds (63 percent) of asset owners surveyed expected their data management challenges to increase. We believe we are assembling the right combination of technology, expertise and platforms to help solve these challenges.”
Conway has led a number of businesses and corporate functions during his 25-year career at State Street in addition to leadership roles within the company’s international business in Europe and the Asia-Pacific region.
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 $24.4 trillion in assets under custody and administration and $2.1 trillion in assets under management at December 31, 2012, State Street operates in more than 100 geographic markets worldwide, including the U.S., Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.
This AUM includes the assets of the SPDR Gold Trust (approx. $72.2 billion as of December 31, 2012), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.