State Street has appointed Mark Westwell as head of its UK Trustee and Depositary business, which provides services to more than 528 funds valued at over £254 billion.
The appointment is subject to regulatory approval.
Based in London, Westwell will be responsible for the continued growth and development of State Street Trustees Limited (SSTL), and will report to Akbar Sheriff, head of Global Services in the UK.
“Mark is a well-known figure in the UK financial services industry and is notably credited with leading the industry response to the FCA’s ‘Dear CEO’ letter on outsourcing for asset managers in the UK in 2013,” said Sheriff.
“I am confident that Mark will continue to position State Street at the forefront of trustee and depository services.”
Since joining State Street in 2007, Westwell has held leadership roles in several strategic relationship management positions across the region, served as a director of State Street Trustees Limited, State Street Infrahedge and State Street South Africa Limited. He has also been instrumental in the company’s strategic planning for Brexit and continues to chair the Brexit client communications group in Europe.
Prior to State Street, Westwell held various roles at the Bank of New York, JPMorgan Chase and NatWest.