State Street has split out its Global Markets Europe and Investor Services UKMEA functions as part its strategic plan for global growth initiated almost two years ago.
The changes were initially reported in aiCIO magazine, Global Custodians sister title, and involves the same team that became embroiled in a transition management debacle for allegedly incurring losses to pension fund clients.
Effective the beginning of September, Peter ONeill will return from the Asia Pacific branch in Hong Kong to London to lead Global Markets and Global Services across Europe, the Middle East and Africa.
Wai Kwong Seck, who joined State Street in April 2011, will take over from ONeill as head of Global Markets and Global Services in the Asia-Pacific region. He will be based in Hong Kong.
Karen Keenan has been brought over from Boston as head of Global Markets for EMEA, based in London. She is currently responsible for Global Markets strategy and will retain this role when she moves over to London to assume her new role at the beginning of September.
Stephen Smit, previously head of Global Markets and Investor Services across Europe, the Middle East and Africa will now focus on expanding State Streets Global Services in UKMEA.
(JDC)