State Street has made some significant changes to its Management Committee, the company’s most senior strategy and policy-setting team.
Francisco Aristeguieta will establish a new global unit, Institutional Services, which will include the global clients division, segments, sales and client coverage, client program office, and marketing. Reporting to Aristeguieta will be Donna Milrod, head of the global clients division and sales and client coverage; Ian Martin, head of the asset owner client segment; John Lehner, head of the asset manager and insurance client segments; Julia McCarthy, head of client experience; and Paul Fleming, head of the alternatives client segment. Aristeguieta was formerly head of international, having joined in 2019 from Citi.
Andrew Erickson, previously head of global services, will assume a new role as chief productivity officer, responsible for driving productivity and operational effectiveness across the enterprise. In this role, he will be responsible for State Street’s transformation and global delivery organisations, reporting to Ron O’Hanley, CEO. His direct reports will include Aunoy Banerjee, chief transformation officer, and Liz Nolan, head of global delivery. He will also succeed Aristeguieta as head of international.
Lou Maiuri, COO, will expand his responsibilities to include enterprise-wide product and will have responsibility for the technology, product, and platforms organisations. His direct reports will now include Brenda Lyons, head of asset servicing products; Brian Franz, chief information officer; John Plansky, head of Alpha and Charles River Development; and Nadine Chakar, head of global markets. Erickson will report on a matrix basis to Maiuri in connection with his operations responsibilities.