State Street Corporation announced today that Ronald L. O’Kelley, executive vice president and chief financial officer, has decided to leave the company for personal reasons. Stefan Gavell, executive vice president, will assume the role of CFO on an interim basis.
David A. Spina, chairman and chief executive officer of State Street, said, “Ron is an executive of great integrity and character and has been a valuable member of our team since joining the company in 1995. Having worked closely with him throughout his tenure at State Street, I appreciate the significant contributions he’s made to the success of State Street as it has become the world’s leading provider of services to sophisticated global investors. We wish him the very best in his future endeavours.”
O’Kelley said, “I am proud to have been a part of State Street’s success, and it has been a privilege to work with an executive team that is focused on building stockholder value by delivering exceptional service to clients around the world. With strong financials and leadership positions in key markets, State Street is poised for continued growth under the experienced leadership of David Spina. I am confident that great success lies ahead for the company.”
Stefan Gavell, 48, has most recently been responsible for the company’s global financial markets and securities trading infrastructure. He also has been chairman of the company’s Investment Committee, a position he will retain as CFO. Mr. Gavell joined State Street in 1990 to establish the company’s capital markets capabilities in Tokyo, and then served in London, where he was responsible for State Street banking, treasury, and trading activities in Europe. He is a member of State Street’s executive operating group.