Jay Hooley takes over as president and COO of State Street
State Street has appointed Jay Hooley, vice-chairman and head of State Street’s global investment servicing, trading and research businesses, as president and chief operating officer. Hooley, 51, is responsible for State Street’s asset servicing activities worldwide, including investment servicing, investment research and trading and securities finance.
Under his leadership, State Street has consistently achieved high growth, expanded its global presence and enhanced its capabilities and services for its customers.
State Street is a leading provider of investment servicing to institutional investors ranging from alternative investment, mutual and offshore fund servicing, multi-asset class trading, securities finance and transition management.
“Jay is a proven leader with a strong knowledge of our industry and the trends shaping its future,” said Ronald E. Logue, the chairman and CEO of State Street. Logue says Hooley has made a significant impact on the group’s past success and there is no doubt that as president of State Street, he will have an equally profound impact on the group’s future.
Stanchart expands securities services team
Standard Chartered Bank has hired more staff for its expanding securities services team. The hires include Andrew Allen, who is now senior manager at the securities services operations and Giles Elliot, who works as product head for custody and clearing.
Allen will be based in Singapore and report to David Gilmour, the group head of the securities services operations, and will serve as co-ordinator between service delivery centres and the sales and product teams to ensure that service standards are observed.
Elliot, who already has 17 years of experience in securities servicing, will be based in Singapore and will report to Neil Daswani, the global head for securities services, transaction banking. Elliot’s role is to develop an overall product strategy for custody and clearing and spearhead the roll-out of new products and their enhancements.
Daswani says the bank’s securities services business experienced very strong growth in the last two years and the team expansion is a response to the stellar growth of the capital markets business and investment flows into Asia, Africa and the Middle East.
Lyle Williams appointed head of direct custody at Citi
Lyle Williams has been appointed as the head of direct custody and clearing product development for Citi’s Asia-Pacific securities and fund services businesses.
Based in Hong Kong, he will be responsible for developing solutions for the broker-dealer-client segment, third-party clearing, derivatives clearing and market and regulatory implementations across the Asia-Pacific.
He reports directly to Mike Sleightholme, who is the managing director and head of direct custody and clearing, Asia-Pacific. Lyle’s appointment follows several important developments in Citi’s direct custody and clearing business in the region, with key product breakthroughs recently launched in markets such as Hong Kong, Japan and Singapore.
Sleightholme says Williams joins Citi at a very exciting time as the group is about to launch several major product development initiatives across the region. He joins Citi from Deutsche Bank in Hong Kong, where he was heading its Hong Kong custody and clearing operations. Prior to Deutsche Bank, Williams worked in the clearing departments of Fortis in Singapore and HSBC in Hong Kong. He also brings experience from the broker side of both Merrill Lynch and Salomon Brothers.
Big moves at HSBC Securities Services
Nick Bryan, the head of custody and corporate trust services at HSBC securities services is retiring at the end of June after a 33-year career in the bank.
The bank says Bryan has reached the retirement age for international managers after having worked in the securities services business for 17 years, and was heading the custody and corporate trust businesses for 10 years. Tim Howell, the global head of securities services says Bryan has made a very significant contribution to the development and growth of HSBC’s custody and corporate trust and loan agency businesses over many years.
Insiders say there is no plan yet to fill Bryan’s post after he leaves. Colin Brooks, the global head of custody and clearing, and Charles Song, global head of corporate trust and loan agency, who are both based in Hong Kong, will continue to lead their respective businesses. Both Brooks and Song have extensive experience and have been key members of the custody and corporate trust leadership team for many years.
Howell says both Brooks and Song are highly experienced industry professionals who will continue to lead the businesses to ensure that the franchise continues to provide superior services to clients. As a leading sub-custody and clearing and corporate trust and loan agency provider, HSBC provides services to banks, corporations, global custodians and cross-border institutional broker-dealers.
