State Street Corporation, one of the worlds largest providers of financial services to institutional investors, has appointed Alan Robertson as head of UK Trustee and Depositary and managing director of State Street Trustees Limited (SSTL).
State Street Corporation has $22.6 trillion in assets under custody and administration and $2.1 trillion in assets under management as of March 31, 2011.
Robertson will be based in Edinburgh and will report to Steve Smit, Head of State Streets Global Services and Global Markets businesses in the United Kingdom, Middle East and Africa (UKMEA).Robertson will be responsible for leading the SSTL business in accordance with State Street Global Services UKMEA strategy and industry recognised best practice. Trustee and depositary services are a key aspect of State Streets value proposition to asset managers in the UK and the company provides trustee services on behalf of more than 450 UK funds.
Robertson replaces Jim Clark, who after three years as SSTL managing director, is leaving to lead State Streets operation in Cape Town, South Africa.
He joins State Street from Scottish Widows Investment Partnership (SWIP) where he spent nine years and most recently held the position of head of Investment Operations and Relationships. Prior to this role, Robertson was with JPMorgan Investor Services as senior business manager.
The increased regulatory focus has seen the profile of trustees increase and State Street is committed to remaining at the forefront of this sector to support our customers manage the significant regulatory agenda ahead as well as meeting the Banks own obligations, says Smit.
(LB)