State Street Expands Sales Team in Europe

State Street has added three new roles to its sector solutions team, the group responsible for client-facing, business development sales functions.

One of the hires includes Oliver Berger as senior vice president, head of strategic market initiatives for EMEA within sector solutions. In this newly created role, he will be based in Frankfurt and responsible for the development of State Street’s new initiatives and client solutions in the region. He will report directly to Stefan Gmuer, executive vice president, head of sector solutions EMEA. Prior to State, Street, he spent 19 year at J.P. Morgan, most recently as head of prospect sales for EMEA.

State Street has also expanded its sector solutions team in EMEA by hiring Andreas Schmid as vice president in the asset owner solutions team based in Zurich. He joins State Street from RBC Investor and Treasury Services.

In addition, State Street has added Tom Wooders as vice president for the insurance solutions team based in London. He will report to will report to David Howie, senior vice president of State Street’s insurance sector solutions business. Previously, Wooders served as executive director at J.P. Morgan Investor Services a

State Street expanded the sector solutions group in order to meet growing demand from asset managers.

“We recently carried out research amongst 300 asset managers which revealed that one in five (20%) global asset managers believe bringing their existing products to new country markets will provide the greatest growth opportunity for their business over the next three years,” says Gmuer. “However, more than half (51%) cite creating the necessary operational and technology infrastructure as one of their top three challenges when doing so. All of these new appointments are testament to our continued drive to support our client’s growth through such challenges.”