State Street appoints Neil Macdonald as Asia Pacific Head of Asset Managers Segment
State Street Corporation has announced that it has appointed Neil Macdonald as head of the Asset Managers Segment in Asia Pacific, effective May 14, 2021.
In this newly created role, Macdonald will lead State Street’s engagement strategy for asset manager clients in Asia Pacific, including strategic direction, solutions structuring and will be responsible for the overall growth of the segment. Based in Hong Kong, Macdonald will report globally to Donna Milrod, head of Global Asset Managers Segment and Global Clients Division, and regionally to Mostapha Tahiri, chief executive officer for Asia Pacific.
“Asset managers are a key segment for our Asia Pacific business which continues to be a growth engine for State Street,” said Tahiri. “We are excited to create this new role dedicated to supporting asset managers to achieve sustainable growth as they navigate the rapidly evolving and vibrant Asia Pacific marketplace and harness the power of innovation and transformation. Neil’s experience and deep understanding of asset managers’ needs will strengthen our positioning to be an essential partner and trusted advisor for asset managers in the region.”
Macdonald will join State Street from KPMG, where he was the head of the Wealth and Asset Management Centre of Excellence, building a consulting business focused on the needs of wealth and asset managers in Hong Kong Special Administrative Region (HKSAR) and mainland China. He has nearly two decades of experience in the asset management industry. Prior to KPMG, Macdonald was the chief operating officer of Global Investment Solutions at JP Morgan Asset Management and chief operating officer for BlackRock’s Institutional Clients in EMEA. Before entering the asset management industry, Macdonald held a number of senior positions in the banking sector, including Barclays and NatWest Bank.
“According to our Growth Readiness Study 2020, improving investment performance remains the top growth priority for asset managers globally[1],” said Milrod. ” To make better informed investment decisions, asset managers are looking to align back- and middle-office capabilities to front-office needs of accurate and timely data. A single point of access for all data is key to control the data flow. Our proprietary-owned, front-to-back investment servicing platform provides asset managers access to data and analytics from a community of trusted providers on a single platform. This fully open global platform, combined with Neil’s local knowledge and expertise, will strongly position us to support the expansion of asset managers in Asia Pacific.”
Since its entry into the Asia Pacific region almost 40 years ago, State Street has built its presence in the region to serve asset managers, asset owners, insurance companies, alternative asset managers and official institutions. It provides end-to-end solutions to asset managers from trade order management, foreign exchange and broker services, financing and leverage solutions, enhanced custody, to investment operations, fund accounting, global custody, fund administration, transfer agency, data management and data analytics.
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