State Street Corporation has announced a new head of Investment Services, its largest business.
Following expansion of his role last year, Joerg Ambrosius, executive vice president and chief commercial officer, has been appointed president of Investor Services, reporting directly to Ron O’Hanley, chairman and chief executive officer of State Street.
The firm believes that having a leader with sole focus on the Investment Services business will empower a more streamlined execution of operations and strategy and provide stronger outcomes for clients.
Ambrosius has more than 30 years of financial services experience and was already leading client-facing activities and its international organization which has helped drive the business’ growth.
“Joerg is a proven leader whose deep strategic insights, breadth of experience, and client focus distinguish him and will best position State Street to support our clients today and into the future,” said O’Hanley. “He has been instrumental in driving our Investment Services growth agenda and delivering deep client satisfaction and strong results.”
Ambrosius, O’Hanley, and COO Mostapha Tahiri were all part of leadership changes made by State Street in October 2023 as then president, COO and head of investment services Louis D. Maiuri was preparing for retirement.
“I am confident in our Investment Services strategy to deliver distinctive value to our clients. Joerg’s appointment, coupled with Mostapha’s focus on operational excellence and productivity for the benefit of clients, demonstrates State Street’s commitment to leadership and value creation in this market,” added O’Hanley.
The firm’s asset management arm State Street Advisors has also seen some leadership changes recently with James Ferrarelli as its new executive vice president and chief operating officer, reporting to State Street Global Advisors CEO Yie-Hsin Hung.
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