CUSTODY

State Street CEO to receive GC Lifetime Achievement Award

State Street's chief executive Jay Hooley will be awarded Global Custodian's Lifetime Achievement award at the North America Industry Leaders event.

By Jonathan Watkins jonathan.watkins@strategic-i.com November 13, 2017 1:45 PM GMT
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Global Custodian will honour industry legend and State Street chief executive officer, Jay Hooley, with a Lifetime Achievement award at the North America Industry Leaders event on 30 November.

Each year Global Custodian hands out one Lifetime Achievement accolade to a distinguished individual from the securities services industry who has made a major impact during their career.

Hooley announced earlier this month that he will retire at the end of 2018, after spending 30 years at the Boston-based global custodian.

During his time he has become a pioneer in the custody space and has spearheaded State Street’s digitisation programme in recent years.

The award will be given to Hooley on 30 November at Global Custodian’s Industry Leaders awards in New York City.

In addition, State Street is shortlisted for two other awards – for Best Custody Technology and Deal of the Year – within the Editors’ Choice categories.

Hooley joined State Street in 1986, and two years later was appointed president and chief executive officer of National Financial Data Services. From there he went on to become president and chief executive officer of Boston Financial Data Services from 1990 to 2000.

Hooley returned to State Street in 2000 to manage the company’s global investment servicing business. During this time, he played a lead role in the company’s major strategic acquisitions, including Deutsche Bank’s Global Securities Services business in 2003 and Investors Financial Services Corporation in 2007.

Hooley was appointed vice chairman in 2006 and president and chief operating officer in 2008, where he was responsible for all of State Street's asset servicing and trading activities worldwide, and also oversaw the company’s securities operations and its corporate technology organisation. In 2010 he took on the CEO role.