Custodian bank and services provider State Street Corp. has promoted Michael F. Rogers to be its new president and chief operating officer (COO), officials say. Rogers has been a member of the management committee, the senior strategy and policy-making group since 2010.
An industry veteran, Rogers has more than 30 years of experience overseeing asset servicing and trading businesses. His time at State Street began in 2007 after the acquisition of Investors Financial, where Rogers had been president for six years.
At State Street, Rogers has held many leadership positions including head of its investment servicing business in the Americas and research and trading business globally, officials say.
In his new role as president and COO, he will keep his current responsibilities, but also have overall accountability for IT, global operations and State Street’s global exchange business. Rogers will continue to report to Jay Hooley, chairman and CEO of State Street.
“My focus will be on strengthening the considerable advantages we have as an organization including our fiduciary heritage, global footprint, scale and technology leadership for the benefit of all of our stakeholders,” Rogers says in a statement.
State Street officials also announced the appointment of two executive vice presidents to its management committee: Gunjan Kedia, executive vice president and head of the investment servicing capabilities in the Americas for mutual fund, insurance and institutional clients; and Wai Kwong Seck, executive vice president, head of global markets and global services across Asia Pacific.
Kedia, who reports to Rogers, joined State Street in 2008 from Bank of New York Mellon where she held senior roles including head of global product management. Prior to State Street, she was a partner at McKinsey & Co.
Seck, who reports to Joe Antonellis, vice chairman of State Street who leads all Europe and Asia-Pacific Global Services and Global Markets, joined State Street in 2011 from the Singapore Exchange, where he served as chief financial officer for eight years, officials say. Seck previously held senior executive positions with organizations including DBS Bank, Lehman Brothers, the government of Singapore Investment Corp. and the Monetary Authority of Singapore.
State Street has $28.47 trillion in assets under custody and administration and $2.42 trillion in assets under management as of September 30, 2014, officials say.
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