Global Custodian is pleased to reveal the three newest Legends to be inducted into the prestigious GC Hall of Fame.
Our Legends embody the pinnacle of excellence within the securities services industry. The Hall of Fame is made up of stalwarts often amassing decades of experience in leading from the forefront and driving positive change across the market.
The trio were inducted during Global Custodian’s Industry Leaders awards 2025, held at Chelsea Piers in New York yesterday evening.
Jay Martin
Jay Martin serves as president of private fund Solutions at Ultimus Fund Solutions, where he leads the firm’s private fund administration business. In this role, he oversees all aspects of service delivery for private equity, venture capital, hedge funds, fund of funds, and private credit vehicles. 
With a financial services career spanning more than three decades, Martin has built a reputation across global custody, fund administration, and alternative investment servicing.
He is responsible for driving growth and client success across Ultimus’ private markets business line, shaping how the firm delivers solutions to general partners and institutional investors.
Before joining Ultimus, Martin served as president of investment services at U.S. Bank, where he led the custody and fund administration division and launched a private credit accelerator fund. His tenure saw the unification of global fund services and global corporate trust under a single leadership structure.
Earlier in his career, Martin held senior executive roles at Citco Fund Services and Citi. He also held key positions at JP Morgan Chase, Swift and BNY.
Alan Flanagan
Alan Flanagan is global head of client coverage for BNY’s asset servicing business, where he oversees relationship management for some of the firm’s largest institutional clients across asset management, asset ownership, insurance, and financial institutions. 
With more than 25 years of experience in fund administration and financial services, Flanagan has played a key role in shaping BNY’s asset servicing strategy globally – spanning investment administration, operations and technology solutions for both traditional and alternative investment clients.
Since joining the firm in 2007, Flanagan has held a number of senior leadership roles across fund services, alternatives and client management. He previously led BNY’s global fund services business, encompassing accounting solutions, alternative investment services, exchange-traded fund (ETF) services, and investor solutions.
Earlier, as global head of alternative investment services, he oversaw more than $1.3 trillion in assets under administration and custody, driving the firm’s service evolution for hedge funds, private equity, infrastructure, credit and real estate funds.
Before joining BNY, Flanagan served as Americas head of business development for UBS Fund Services in the Cayman Islands. He began his career at KPMG in Dublin, where he qualified as a chartered accountant and developed an early grounding in audit and fund operations.
Donna Milrod 
Donna Milrod is a financial services executive with over 25 years of experience, currently serving as executive vice president and chief product officer at State Street.
She is responsible for driving the strategy, value propositions, and growth of the firm’s asset servicing businesses, including its digital asset solutions.
Milrod is also a member of State Street’s executive committee, playing a key role in shaping the firm’s global direction and client strategy.
Over her tenure at State Street, Milrod has held several senior roles, including head of the global asset managers segment and the global clients division.
Prior to joining State Street, she held leadership positions at Deutsche Bank, where she served as deputy chief executive officer for North America, and at the Depository Trust & Clearing Corporation (DTCC), where she was head of DTCC solutions and a member of the management committee.
Her experience also includes advisory roles at Broadridge and McKinsey & Company, where she focused on helping financial institutions navigate risk, enhance operational efficiency, and drive revenue growth.