State Street Corporation has tapped Lou Maiuri as the newest head of its Global Exchange business, according to a State Street statement.
In his new role as the global head of State Street’s exchange operations, Mr. Maiuri will be reporting to Mike Rogers, the group’s President and Chief Operating Officer (COO).
According to Mr. Rogers in a recent statement on the appointment, “Having led our securities finance and investment management servicing businesses, Lou has a keen understanding of the needs of our buy-side clients.”
Prior to the promotion, Mr. Maiuri served as the Executive Vice President – Securities Finance at State Street. He joined State Street back in October 2013, having held a number of senior level roles at leading financial institutions, part of a career spanning 25 years.
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These include a stint at BNY Mellon as its deputy CEO of asset servicing, Head of the Global Financial Institutions group within BNY’s asset servicing business and also as a member of the Operating Committee.
Following the new appointment, the man pegged to replace Mr. Maiuri will be Paul Fleming, State Street’s acting Senior Vice President, (SVP), who will assume Maiuri’s former responsibilities leading the securities finance group.
“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. 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,” noted Mr. Maiuri in an accompanying statement.
“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,” added Mr. Maiuri.
Last month, State Street Global Advisors (SSGA), an asset management affiliate of State Street Corp, elevated Greg Ehret to the role of President. Mr. Ehret previously served as the Executive Vice President and Global Chief Operating Officer (COO) of State Street Global Advisors (SSGA), part of a two decade long career at State Street Global.