State Street Appoints COO, Adds Two to Management Committee

State Street has appointed executive vice president Michael Rogers to president and chief operating officer of the firm, assuming roles previously held by Jay Hooley as part of his job as chairman and CEO of State Street.
By Jake Safane(2147484770)
State Street has appointed executive vice president Michael Rogers to president and chief operating officer of the firm, assuming roles previously held by Jay Hooley as part of his job as chairman and CEO of State Street.

Rogers joined State Street in July 2007 as part of the acquisition of Investors Financial. At State Street, he previously headed the relationship management group, and he currently serves as head of State Street Global Markets Globally and State Street Global Services for the Americas. Since 2010, he has also been a part of State Street’s Management Committee, the firm’s most senior group.

In his new role, he will continue to report to Hooley, and in addition to his current responsibilities, he will be responsible for the Information Technology, Global Operations and State Street’s Global Exchange business.

Before joining State Street, Rogers had been with Investor Financial’s subsidiary Investors Bank & Trust (IBT) for 27 years. Among his many roles there, including as president, he played a key role in the development and implementation of IBT’s proprietary custody and fund accounting system, FACTS.

“Mike is a great leader with a strong knowledge of our industry and, importantly, our clients and their needs,” says Hooley. “He has been instrumental to our past success and I have no doubt he will continue to make a strong impact on our future.”

“This is a time of tremendous opportunity within our industry as well as one of increased complexity and challenges,” says Rogers. “My focus will be on strengthening the considerable advantages we have as an organization including our fiduciary heritage, global footprint, scale and technology leadership for the benefit of all of our stakeholders.”

In addition to Rogers appointment, State Street has also added two executive vice presidents to its Management Committee: Gunjan Kedia, who heads the company’s investment servicing capabilities in the Americas for mutual fund, insurance and institutional clients; and Wai Kwong Seck, head of State Street’s Global Services and Global Markets businesses in Asia Pacific.

Kedia reports to Rogers and has been with State Street since 2008, after joining from BNY Mellon, where she held senior roles including head of global product management. Prior to BNY Mellon, she was a partner at McKinsey & Company.

Seck reports to State Street’s Vice Chairman Joe Antonellis, and he joined State Street in 2011 from the Singapore Exchange, where he served as chief financial officer for eight years. Before the Singapore Exchange, he held senior executive positions at a variety of organizations including DBS Bank, Lehman Brothers, the Government of Singapore Investment Corporation and the Monetary Authority of Singapore.

“These promotions to our senior-most leadership team reflect the considerable contributions that Gunjan and Wai Kwong have made to the success of our business,” says Hooley. “With their diverse backgrounds and global expertise, they provide an excellent complement and range of skills to our management team.”

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