State Street names new global markets head for continental Europe
Appointed individual has been with State Street since 2021 and has previously served at UBS and Credit Suisse.
Appointed individual has been with State Street since 2021 and has previously served at UBS and Credit Suisse.
Deal will bump State Street into the ranks of outsourced trading giants such as Northern Trust and UBS, extending its remit in outsourced trading to the UK and Europe.
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State Street has had a local presence in Korea for more than two decades with plans to further enhance its onshore and offshore trading offerings.
In addition, DTCC is set to be connected to State Street’s systems.
This move represents LoopFX’s first major integration with an FX trading platform.
Issuers on the Alpha platform can make use of portfolio management, trading and compliance.
Incoming hire rejoins the firm after previously serving for nine years, most recently in the same role that he will reprise; also spent a decade at Goldman Sachs.
Move will allow State Street to expand its European franchise, with multilateral netting providing risk management and collateral optimisation benefits to its client base.
Major service providers including BNY Mellon, State Street, UBS and Northern Trust have all expanded their outsourced trading capabilities to meeting growing demand from buy-side organisations.