State Street has promoted thirty-year industry veteran Lou Maiuri as chief operating officer with overarching responsibility for technology, operations, product and innovation across the group.
Maiuri, who rejoined State Street in 2013 after a stint at BNY Mellon, was instrumental in the company’s recent acquisition of Charles River Development as part of its front-to-back investment servicing platform strategy.
Earlier in his career, Maiuri held the roles of chief operating officer and chief executive officer of Eagle Investment Systems and worked at Fidelity Investments in both the fixed income and equity investments divisions. More than two decades ago he served as a vice president in technology at State Street.
“I am excited to take on this new role and lead the most transformative parts of our company,” says Maiuri. “Focusing our resources and our financial and human capital on a common set of priorities and towards a common vision will accelerate our ability to succeed and strengthen our performance and position in the marketplace. Keys to our success will be driving greater automation, setting industry standards and enabling continuous innovation.”
Last year, State Street brought together all of its client facing activities including service, relationship management and sales under the leadership of management committee member Andrew Erickson to enable a more seamless client experience and consistent touchpoints across the globe. This organisation includes the newly formed Global Clients Division led by Donna Milrod.
“Bringing together the resources that drive our operating infrastructure, technology strategy and innovation under one leader complements the moves we have made with our client-facing activities to make State Street more seamless. This will also accelerate our ability to deliver our front-to-back investment servicing platform and become a true technology-driven scale provider,” says president and CEO Ron O’Hanley. “These priorities reflect our commitment to solving our clients’ greatest challenges while driving shareholder value. Lou will work in partnership with Andrew to deliver better outcomes for our clients and the people they serve.”