State Street Expands Transfer Agency Business in Asia with New Appointments
HONG KONG/TAIPEI, May 8, 2014 — State Street Corporation (NYSE: STT) announced today the expansion of its transfer agency business in Asia Pacific with five new appointments.
State Street has built a strong global presence to provide customized transfer agency solutions to its clients. In 1995, State Street expanded its 40 year joint-venture with DST Systems Inc. (a leading provider of information processing and software services and products to companies around the world), to create International Financial Data Services (IFDS). Since then, the joint venture has grown to be a world-leading provider of outsourcing and technology solutions to the financial services industry, supporting more than 44 million investors and policy holder accounting for over 370 financial organizations across Asia-Pacific, Europe and North America.
Andrew Erickson, head of State Street Global Services and IMS for Asia, said, “We are extremely pleased to welcome our new colleagues. The Asia-Pacific region is a key growth area for many of our clients and each new appointment adds significant experience to our operations, ensuring we are well positioned to support the administration of domestic and cross-border products and provide distribution support to existing and prospective clients.”
Euan McLeod has joined as the head of transfer agency for the Asia Pacific region. He will be based in Hong Kong, and is responsible for all transfer agency products and services for both the domestic and cross-border ranges. Euan has more than 20 years of experience in the transfer agency field. He has worked in Ireland, Australia, Bermuda, Luxembourg and Hong Kong. Prior to State Street, Mr. McLeod worked in various roles at HSBC, JP Morgan, Citibank and the Royal Bank of Scotland. He has a Bachelor’s degree in Institutional Management from Cardiff University in Wales.
Gayathri Chandramouli has joined as head of product and strategy for the transfer agency business in Asia based in Singapore. She joined IFDS in 1990, where she held the position of programme manager for their Asian transfer agency operations and product. In her new role she is responsible for the management and development of all the transfer agency market plans for various countries in the region. She has more than fourteen years of experience in transfer agency, including senior positions with DSQ Software Ltd, IFDS in the UK and Bank of New York Mellon. She holds a Bachelor’s degree of Engineering from the University of Chennai in South India.
Also joining the team in Hong Kong is Aileen Yan, who has been appointed head of transfer agency operations. She is responsible for the daily management of the transfer agency operational teams in the region. Aileen Yan has more than 25 years of experience in unit trust and mutual fund operations, and she has worked with Bermuda Trust (FE) Ltd., CEF Capital Ltd and Invesco Hong Kong Ltd. She is a graduate of the Hong Kong Polytechnic University and has been a member of the Institute of Chartered Secretaries and Administrators since 1991.
“Taiwan is an important emerging market for our existing and prospective clients” said Paul Roberts, chief executive officer of funds at IFDS. “Our expanding presence and experience in the region forms a key part of our global distribution support model.”
Other new appointments include Cathy Yeung, who will take on the role of transfer agency AML KYC officer, Zoey Cheang as transfer agency technology and projects lead, and Sean Liew as new business implementation lead.
Notes to Editors
About State Street Corporation:
State Street Corporation (NYSE: STT) is one of the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $27.5 trillion in assets under custody and administration and $2.4 trillion* in assets under management as of March 31, 2014, State Street operates in more than 100 geographic markets worldwide, including the U.S., Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.
International Financial Data Services is recognised as a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS’ services are provided to a wide range of global asset managers, wealth managers, platform providers, insurers, and life companies. We support more than 45.9 million investor and policy holder accounts for over 360 financial organisations across Asia-Pacific, Europe, and North America. The IFDS enterprise employs in excess of 7,900 experienced individuals located throughout Canada, Ireland, Luxembourg, the United Kingdom and the United States of America. IFDS is a 50/50 joint venture between, Boston-based State Street Corporation, one of the world’s leading providers of financial services to institutional investors, and Kansas City, Missouri-based DST Systems Inc., a leading provider of information processing and software services and products to companies around the world. Figures as March 31, 2014. For more information visit www.ifdsgroup.com.