State Street has named Peter Adams as London head of its UK Pensions Servicing team. He will be responsible for “aligning” State Street and WM’s pension capabilities across the organization, but will also retain his role as Managing Director of the WM Company.
“We are delighted to appoint Peter to this role,” says Jeff Conway, senior vice president of State Street Corporation. “Peter’s extensive operational experience, as well as his knowledge of the pensions client base through the WM Company, make him an ideal fit for this important role. The combined capabilities of State Street and the WM Company have afforded us significant advantages and an array of solutions specifically designed to service our growing UK-pensions client base. We are extremely confident that our combined offerings provide a full-service and holistic solution that no other service provider can match.”
State Street claims to have expanded its European market share to service 24% and 21% respectively of pension funds and pooled funds in the UK and Germany. Recent mandate wins include the Local Government Pensions Institution (LGPI) of Finland and the London Borough of Greenwich Superannuation Fund.