State Street Corporation (NYSE: STT) today announced that it has strengthened its leadership team for State Street AlphaSM, its open, front-to-back investment servicing platform for institutional and wealth management firms. State Street Alpha provides an enterprise outsourced platform across front office solutions, analytics, liquidity, data management, and outsourced middle and back office services. The new appointments span both software and outsourced services expertise and experience.
Spiros Giannaros has been named chief executive officer of Charles River Development (CRD). CRD is a leading provider of front office software solutions for the institutional and wealth management industries and is a foundational technology of the Alpha platform and innovation agenda. Giannaros, who was appointed president of CRD in December 2019, is now responsible for all aspects of CRD's global business and will report to John Plansky, global head of State Street AlphaSM . Giannaros has taken a lead role in driving Alpha to cloud computing through a previously announced strategic relationship with Microsoft and delivering on inter-operability commitments through previous announced relationships with MSCI and Qontigo. He is also leading the development of State Street's innovative platform offerings, including enterprise data management, warehousing and data delivery.
Prior to joining State Street, he served as a Partner at IHS Markit (formerly Markit). In this role, he was responsible for the firm's EDM, warehouse and reporting businesses, software managed services, and the thinkFolio business, an order management and portfolio modeling system. Giannaros previously spent 15 years at CRD, where he was a managing director of the Americas and had management oversight of CRD's Broker Dealer business.
Dick Taggart, executive vice president, will expand his responsibilities to manage State Street AlphaSM Services which comprises State Street's leading data management outsourcing services, DataGX, and middle office outsourcing services, Investment Manager Services (IMS). Data management and middle office outsourcing are fundamental service offerings for Alpha that provide institutional and wealth management firms leading capabilities, scale and inter-operability with third party solution and outsourced providers. State Street Alpha Services leverages the deep expertise of global 24x7 service delivery teams, and the innovation of CRD and State Street's proprietary technology. Combining data management and middle office services offers clients global scale and seamless servicing across their full breadth of data, middle office and back office outsourcing requirements. Taggart has held a variety of leadership positions across State Street as head of the IMS business, and State Street Global Advisors as global head of operations. Prior to State Street he was head of global operations at Alliance Bernstein responsible for Institutional Investment Management Operations, Fund Services and Broker-Dealer Operations as well as a number of global operations positions at Morgan Stanley including Transformation Services, Institutional Equity Operations, Global Custody Operations and MSCI Product Development.
"State Street Alpha has quickly become a leading platform for Institutional and Wealth Managers globally and we are committed to attracting the top talent in the industry. We couldn't be more pleased than to have Spiros and Dick, working together and across State Street, driving our platform," said Plansky. "As Alpha becomes increasingly foundational to our clients' decision-making and growth objectives, we are continually looking for ways to enhance our offerings to help them work faster, smarter and more efficiently."
Plansky will also oversee an expanded organization, with an increased focus on State Street Alpha platform management across all Institutional and Wealth participants, State Street Alpha Analytics, client digital experience and data delivery.
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 $33.52 trillion in assets under custody and/or administration and $3.05 trillion* in assets under management as of June 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
* Assets under management as of June 30, 2020 includes approximately $67 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street
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Expiration Date: September 30, 2021
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SOURCE: State Street Corporation
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