BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced it has appointed Rob Baillie as head of its Asset Owner Business team for North America. Baillie assumes this newly created leadership role in addition to his current responsibilities leading State Street’s businesses in Canada, where the company is the leading servicer of pension funds and asset managers. Baillie will report to John Lehner, State Street’s head of global services and its global asset management segment.
In this new role Baillie will be responsible for advancing an integrated, strategic partner approach to the firm’s Asset Owner clients across North America. He will also drive service enhancements and solution development in support of State Street’s pension fund and endowment clients. Baillie will work closely with Ian Martin, who was appointed global head of State Street’s overall Asset Owner segment team earlier this year, to ensure clients in North America are receiving the benefits of global best practices, services, insights and thought-leadership.
“Our Asset Owner clients are operating under the same, if not even tougher, constraints and challenges as the rest of the investment management industry,” said John Lehner. “They are balancing the need to achieve long-term investment returns with meeting liabilities in a difficult market environment while continuing to manage increasingly onerous regulations. This requires a partner that is global, integrated and experienced in managing the most complex and diverse portfolios and products, across multiple asset classes, to deliver truly differentiated solutions. This is core to what we do each and every day, and Rob’s appointment underscores our commitment to this important segment and our goal of being our clients’ essential partner.”
Baillie is an industry veteran with more than 25 years’ experience in investment servicing with a particular focus on asset owners. He joined State Street six years ago.
Baillie added: “I am delighted to take on the responsibility of leading our North America efforts with some of our largest and most complex clients. I am looking forward to spending time with them in the coming weeks and months. Now more than ever we must be focused on helping these organizations achieve their desired outcomes, as well as those of the people they serve.”
Baillie’s appointment is the latest in a series of enhancements State Street has made this year in support of its asset owner clients globally spanning people, technology and more integrated solutions. For example, following State Street’s acquisition of Charles River Development in 2018, the firm has been focused on building and delivering the industry’s first front-to-back platform. Asset Owners will benefit from the platform’s ability to deliver real-time, quality data and analytics across the full investment lifecycle and across multiple asset classes. Designed to meet the needs of diverse and complex organizations around the world, the front-to-back offering will harmonize data, reduce costs and speed up strategic decision making.
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 $32.6 trillion in assets under custody and administration and $2.8 trillion* in assets under management as of March 31, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33 billion as of March 31, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
Forward-Looking Statements
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Expiration date: June 30, 2020
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