State Street shuffles its senior management team
13 May 2022 US
Image: State Street
State Street has shuffled its senior management team in an effort to deliver its strategic growth objectives.
Lou Maiuri, formerly chief operating officer, has been appointed president and head of investment services, while Eric Aboaf, previously chief financial officer, has been appointed vice chairman.
Maiuri will be responsible for all facets of State Street’s investment services business, including client management, product, technology and operations.
This expanded role will help promote alignment of State Street’s products and solutions and differentiate its offerings in support of clients.
It will also help to facilitate revenue growth and assist the company to achieve its medium-term financial targets.
As vice chairman, Aboaf will be responsible for State Street’s global markets business.
His role across all uses of State Street’s balance sheet will further drive balance sheet optimisation and promote capital return to shareholders, State Street says.
Maiuri and Aboaf will both continue to report to Ron O’Hanley, chairman and CEO.
Commenting on Maiuri and Aboaf’s new appointments, O’Hanley says: “Expanding and elevating Lou’s and Eric’s roles and remits will deepen focus and accountability for results across our business globally.
“I look forward to continuing to work with this outstanding leadership team for years to come as we further drive our strategy to be the best and fulfill our vision to help create better outcomes for the world’s investors and the people they serve.”
Lou Maiuri, formerly chief operating officer, has been appointed president and head of investment services, while Eric Aboaf, previously chief financial officer, has been appointed vice chairman.
Maiuri will be responsible for all facets of State Street’s investment services business, including client management, product, technology and operations.
This expanded role will help promote alignment of State Street’s products and solutions and differentiate its offerings in support of clients.
It will also help to facilitate revenue growth and assist the company to achieve its medium-term financial targets.
As vice chairman, Aboaf will be responsible for State Street’s global markets business.
His role across all uses of State Street’s balance sheet will further drive balance sheet optimisation and promote capital return to shareholders, State Street says.
Maiuri and Aboaf will both continue to report to Ron O’Hanley, chairman and CEO.
Commenting on Maiuri and Aboaf’s new appointments, O’Hanley says: “Expanding and elevating Lou’s and Eric’s roles and remits will deepen focus and accountability for results across our business globally.
“I look forward to continuing to work with this outstanding leadership team for years to come as we further drive our strategy to be the best and fulfill our vision to help create better outcomes for the world’s investors and the people they serve.”
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