State Street has made three leadership changes for its business in Germany, Luxembourg and Switzerland, as it looks to continue driving forward its European expansion.
Andreas Niklaus has been appointed as country head of Germany after serving as chief operating officer since 2006, where he was responsible for global services in Germany, Austria and the Nordics. He also served as the European head of depositary services.
Niklaus originally joined State Street in 2003 to manage the Depotbank and oversaw the successful integration of Deutsche Bank’s Securities Services business into State Street Bank International.
State Street has also promoted Riccardo Lamanna to country head of Luxembourg, after he served as head of Alpha business development for EMEA and the head of State Street Global Exchange.
Lamanna joined Stated Street in 2010 as part of the Intesa Sanpaolo acquisition and prior to his most recent role, he led State Street’s Italian branch and managed global services in the Netherlands.
In addition, Dagmar Kamber Borens has been hired as country head of Switzerland and brings more than 20 years of experience in the banking industry to the global custody bank.
In her most recent role, Borens was the designated chief executive officer and country head of Quintet Private Bank Switzerland.
Before this, she spent 18 years at UBS where she served in several different senior positions, including group chief financial officer for APAC in Singapore, and chief operating officer for the Swiss Universal Bank at Credit Suisse.
In their respective regions, the new country heads will be responsible for developing business, stewarding client engagement, and building on State Street’s brand and market network, as well as maintaining strong regulatory relationships.
“Our country heads are critical to our vision and path forward to being an essential partner for our clients. Andreas, Riccardo and Dagmar all bring significant, on-the-ground experience to their roles and are highly skilled to lead the creation and execution of an enterprise-wide growth strategy for their respective markets,” said Jörg Ambrosius, executive vice president and CEO, EMEA for State Street.
“I am delighted to have such strong leaders in these important countries and markets to continue to drive our European expansion and deepen our relationships with local institutional investors and regulators.”
The Boston-headquartered custody bank has made a number of senior changes to its European leadership ranks over the past year. These include the hire of Benjie Fraser as head of the asset owners segment for EMEA, Nils Hoffman as executive of its EMEA global client division, and James Day as head of EMEA securities finance.
Last year, State Street celebrated its 50th year in EMEA, and as of the end of 2020, it held over $8.1 trillion in assets under custody and administration in the region.