State Street lures US securities veteran for new global client division

The new division will focus on delivering cross-enterprise solutions and insights into the company’s global and most complex clients.

By Joe Parsons

State Street has hired the former deputy chief executive of Deutsche Bank Americas to lead a newly formed division focusing on its largest clients.

Donna Milrod joins the Boston-based global custodian where she will lead the delivery of cross-enterprise solutions and insights into the company’s global and most complex clients.

She will also be responsible for strengthening clients’ interactions with State Street, with the aim of making it more seamless to access expertise, insights and solutions.

With over 25 years of experience in the US securities and financial services industry, Milrod has held several leadership roles at some of the largest organisations.

As well as her 22 years at Deutsche Bank, where she served as a senior representative to Washington on the formulation of the Dodd-Frank legislation, she was chief administrative officer and head of DTCC solutions for almost four years. She served on the management committees for both organisations.

Most recently Milrod was a senior advisor to both Broadridge and McKinsey & Company where she provided advice for navigating risk, optimising operating efficiencies and increasing revenue growth.

Prior to her move into financial services, she was a director of the market research department at Institutional Investor magazine.

“Donna brings important skillsets to State Street witH her deep business knowledge, relationship management skills, and regulatory and operations background,” said Andrew Erickson, head of State Street’s Global Services business.

“As an advocate for our clients, she will help simplify the way they experience State Street, working with them to bring solutions together in a cohesive way.”

Milrod will join State Street’s management committee, the company’s most senior strategy and policy-making team.