State Street has made senior management changes. Lou Maiuri, currently COO, has been appointed as president and head of Investment Services and Eric Aboaf, CFO, to vice chairman. Maiuri and Aboaf will both continue to report to Ron O’Hanley, chairman and chief executive officer.
Maiuri now has end-to-end responsibility for all facets of State Street’s Investment Services business, including client management, product, technology and operations. In addition to Aboaf’s appointment to vice chairman, he now has expanded responsibility for State Street’s Global Markets business. This provides Aboaf with direct management of all aspects of State Street’s balance sheet and the use of the balance sheet on behalf of clients.
As a result of these changes, Francisco Aristeguieta, head of institutional services, will be leaving the bank in early 2023. He joined State Street in 2019 from Citi.