Louis Maiuri, president, chief operating officer and head of Investment Services at State Street Corporation will retire by early 2024, with Ron O’Hanley, chairman and chief executive officer to assume the office of the president, in addition to his current roles as chairman and chief executive officer, and responsibility for Investment Services, State Street’s largest business. O’Hanley will take the role from 1 January 2024.
Mostapha Tahiri, currently head of Asia Pacific, Middle East and North Africa, will become State Street’s chief operating officer. Since 2020, Tahiri worked on the franchise in the Asia-Pacific region and in April 2023, he added responsibilities as head of Middle East and North Africa. Tahiri has over 25 years of experience in the asset management and investment services business.
Investment Services client facing activities will be further consolidated under Joerg Ambrosius, executive vice president and chief commercial officer. In line with his role as chair of State Street International Holdings, Ambrosius will also assume full responsibility for our international organization to provide seamless delivery to our clients across the globe.
Tahiri, Ambrosius, Donna Milrod, executive vice president and chief product officer, and John Plansky, executive vice president and head of State Street Alpha, will report directly to O’Hanley. These organisational model changes are intended to position State Street’s Investment Services as it tries to accelerate revenue growth and sustain delivery for its clients and shareholders.
Maiuri remarked on his tenure at State Street, “It has been a great privilege to work with this terrific team and help build State Street’s success while strengthening the firm’s foundation for growth. I started my investment services career leading a fintech start-up and went on to significant roles at major financial services organisations. In my next stage, I intend to explore the new opportunities being created by the confluence of technology and finance. I remain a shareholder with great confidence in State Street’s strategy and the team that will execute it. I look forward to watching State Street thrive and grow.”
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