BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that it has named Lou Maiuri to head its Global Exchange business. Maiuri, an executive vice president and industry veteran with more than 25 years of experience in technology and financial services, will report directly to Mike Rogers, president and chief operating officer of State Street.
“Having led our securities finance and investment management servicing businesses, Lou has a keen understanding of the needs of our buy-side clients,” said Rogers.
Prior to joining State Street in October 2013, 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. Nearly two decades ago he served as a vice president in technology at State Street.
“As our entire industry continues to adapt to disruptive elements, it is increasingly important to use data and analytics for insights and focus on execution,” said Maiuri. “I’m committed to not only capturing new ideas that will help us innovate rapidly, but also to strengthening the information and technology advantage we already have in place to deliver additional front office solutions for the buy-side.”
Dick Taggart, executive vice president and global head of State Street’s Investment Manager Services (IMS) group, will continue reporting to Lou. Taggart is responsible for strategy, business management, and client services for investment manager clients using State Street’s middle-office services.
“By aligning our middle office business and its technology platforms with Global Exchange, we expect to create additional opportunities to better service our clients and manage their data, providing them with increasingly valuable information and investment insights they’re looking for,” continued Maiuri.
Paul Fleming, senior vice president, will assume Maiuri’s former responsibilities leading the securities finance group, where he will be responsible for the global strategic direction and operations of both the agency and principal lending programs. He will report to Karen Keenan, executive vice president.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.7 trillion in assets under custody and administration and $2.4 trillion* in assets under management as of June 30, 2015, 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 web site at www.statestreet.com.
* Assets under management include approximately $26.7 billion as of June 30, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.