State Street Builds Client Solutions Team Across Europe

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LONDON — State Street Corporation (NYSE: STT) announced today the appointment of Oliver Berger to senior vice president, head of strategic market initiatives for Europe, the Middle East and Africa (EMEA) within its sector solutions team.

In this newly created role Berger will be responsible for the development of State Street’s new initiatives and client solutions.

Berger will be based in Frankfurt and will report directly to Stefan Gmuer, executive vice president, head of sector solutions EMEA. He joins from JPMorgan Chase Group after 19 years, where his most recent role was as head of prospect sales for EMEA.

Commenting on the new appointment, Gmuer said, “Oliver has more than 25 years’ experience within financial services, bringing a wealth of knowledge to our established team and complementing our activity across all client sectors in the region.”

State Street also announced additional new appointments across its sector solutions team in EMEA with Andreas Schmid joining as vice president in the asset owner solutions team based in Zurich.  He joins from RBC Investor and Treasury Services. 

Tom Wooders joins the insurance solutions team based in London. He was previously with JPMorgan Investor Services as executive director. Wooders joins as vice president and will report to David Howie, senior vice president of State Street’s insurance sector solutions business.

Gmuer continued, “We recently carried out research amongst 300 asset managers which revealed that one in five (20 percent) global asset managers believe bringing their existing products to new country markets will provide the greatest growth opportunity for their business over the next three years. However, more than half (51 percent) cite creating the necessary operational and technology infrastructure as one of their top three challenges when doing so.  All of these new appointments are testament to our continued drive to support our client’s growth through such challenges.”

1 State Street commissioned FT Remark to conduct a global survey of 300 senior executives at asset management firms from April – May. Respondents were equally distributed across North America, Europe and Asia Pacific and managed at least $5 billion in retail and/or institutional client assets

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.4 trillion in assets under custody and administration and $2.48 trillion* in assets under management as of June 30, 2014, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.

* Assets under management include the assets of the SPDR® Gold ETF (approximately $33 billion as of June 30, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.

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