Donna Milrod

State Street Corporation (NYSE: STT) and Taurus SA (“Taurus”), a global leader in digital asset infrastructure, has announced a strategic agreement that will deliver trusted and reliable digital assets capabilities for State Street Bank and Trust Company clients. The agreement will further enhance State Street Digital Asset Solutions, which seeks to provide an integrated business and operating model that supports the digital investment lifecycle.

“The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience,” said Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions. “We are excited to be working with Taurus as we continue to elevate our digital asset capabilities and deliver the innovative solutions our clients have been seeking.”

Taurus is an industry-leading digital asset infrastructure provider that specializes in serving large financial institutions. Subject to receipt of applicable regulatory approvals, State Street will leverage Taurus’ fully integrated, custody, tokenization and node-management solutions to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, in accordance with applicable institutional standards.

The collaboration comes at a time when institutional interest in digital assets is at an all-time high. State Street remains committed to providing its clients with best-in-class solutions for this emerging space.

State Street will be leveraging three of Taurus’ industry leading products including, Taurus-PROTECT, Taurus-CAPITAL, which streamlines the process of creating and managing tokenized assets throughout their lifecycle, and Taurus-EXPLORER, which provides blockchain connectivity to dozens of different blockchain protocols. Information Classification: General

“We are thrilled to have been chosen by State Street as a strategic partner for custody and tokenization and are excited about our collaboration and the opportunity to introduce innovative digital asset products and services to the industry,” said Lamine Brahimi, co-founder and managing partner of Taurus.

State Street’s digital custody product offering is subject to regulatory approval.

The post State Street announces agreement with Taurus to deliver full service digital platform for institutional investors appeared first on AdviserVoice.

Ambrosius brings more than 30 years of financial services experience, with a successful track record of leading client management, sales and revenue growth, focusing on the needs of asset managers and institutional investors. Ambrosius assumed an expanded role in October 2023 with overall leadership of Investment Services’ client facing activities and full responsibility for its international organisation to better enable a differentiated client experience for clients worldwide. The appointment of a leader solely focused on the investment services business will further strengthen execution, streamline decision making, and provide clients with more effective delivery of products, services, and solutions.

“Joerg is a proven leader whose deep strategic insights, breadth of experience, and client focus distinguish him and will best position State Street to support our clients today and into the future,” said Ron O’Hanley, chairman and chief executive officer of State Street. “He has been instrumental in driving our Investment Services growth agenda and delivering deep client satisfaction and strong results.”

Mostapha Tahiri will remain as State Street’s chief operating officer. Appointed in October 2023, Tahiri has had immediate impact in positioning State Street’s enterprise global operations and technology organisations to deliver greater value for its clients and its business, as well as driving ongoing service quality and productivity improvements through transformation initiatives across the firm.

Ambrosius and Tahiri will continue to report directly to O’Hanley.

O’Hanley continued, “I am confident in our Investment Services strategy to deliver distinctive value to our clients. Joerg’s appointment, coupled with Mostapha’s focus on operational excellence and productivity for the benefit of clients, demonstrates State Street’s commitment to leadership and value creation in this market.”

These changes will further position State Street’s Investment Services business for long-term success as it delivers for our clients and investors, executes on its strategy, and accelerates revenue growth.

The post State Street names Head of Investment Services appeared first on AdviserVoice.

Frank Koudelka

State Street Corporation (NYSE: STT) has announced the expansion of its Fund Connect ETF portal via upgrades to its Application Programming Interface (API), now offering coverage to all clients globally including Europe and the APAC region. Fund Connect ETF APIs have been available in the U.S. and Canada for years and account for nearly half of North American order volumes.

Fund Connect ETF is a global online portal that facilitates the creation and redemption of ETFs, designed as a single point of access to many issuers. The portal’s automated order routing solution provides access to ETFs in multiple currencies, supplying a direct link between Authorised Participants (APs), order takers, sub-advisors and sponsors. This API expansion allows global market participants to scale their businesses and capitalizse on efficiency gains and risk reduction through the portal’s automated API technology.

“This expansion is in response to the growing demand from our valued APs, particularly those in Europe and APAC, who have expressed a strong interest in leveraging State Street’s best-in-class connectivity,” said Lori Coakley, global business head of Fund Connect ETF at State Street. “Not only does this cater to that increasing demand for streamlined and automated ETF creation and redemption processes, but it also further solidifies our position as a leader in in the ETF industry.”

The ETF market has witnessed unparalleled growth over the course of the past few years, driving a surge in demand for increased automation within the creation and redemption framework. Recognising this trend, State Street is meeting the evolving needs of APs by upgrading one of the most integral parts of State Street’s GlobalLink product suite. With this enhanced API integration, clients globally will now be able to seamlessly place orders directly with funds via their own Order Management Systems (OMS).

“The global API connectivity is the next logical step in the continued digitisation of our ETF servicing business,” said Frank Koudelka, global head of ETF Product at State Street. “Close to 100 authorised participants are communicating their create / redeem orders globally on behalf of our ETF clients to State Street via Fund Connect. The continued theme we have heard from them is a desire to communicate system-to-system as opposed to web portals, and Fund Connect is now the first create / redeem portal with fully enabled via APIs across Asia-Pacific, Canada, Europe and the United States. This further demonstrates the innovations that State Street has brought to the marketplace as the largest global ETF service provider.”

Fund Connect ETF is an integral part of State Street Global Markets’ suite of award-winning electronic trading platforms.

The post State Street Expands Fund Connect ETF APIs to Provide Global Coverage appeared first on AdviserVoice.

Ron O’Hanley

State Street Corporation (NYSE: STT) has marked the opening of its new global headquarters building at One Congress Street, located in the Bullfinch Crossing area of downtown Boston. The new headquarters embraces the evolving needs of the workforce with flexible workstations and an environment built for increased collaboration and productivity.

“Boston has been home to State Street for more than 230-years and today’s opening further demonstrates our commitment to the city as a hub for both innovation and financial excellence,” said Ron O’Hanley, chairman and chief executive officer of State Street Corporation. “This is the beginning of a new and exciting chapter in our company’s rich history, and one that will provide our employees with a state-of-the-art working environment that will increase our ability to collaborate and ultimately, help us achieve better outcomes for our clients, our employees and the industry.”

State Street occupies approximately 500,000 square feet of space, including wellness amenities and an innovative client centre.

“Boston’s diverse business sector has played an invaluable role in shaping our city over the years, and State Street has roots centuries deep in Boston,” said Mayor Michelle Wu. “I’m grateful that State Street has chosen to continue making Boston its home and look forward to their continued positive influence in our city at the new One Congress headquarters.”

Launches the first new brand identity in more than 50 years

Additionally, State Street is launching a new brand and digital-first visual identity to better reflect the future of the organisation. The new brand is designed to reflect the company’s innovation and history of firsts. Brand remains a critical driver of the company’s success, employee engagement and market value.

“Our new brand reflects our identity and the future of our organisation – one that is leading, transformative and client-centric,” added Lou Maiuri, president, chief operating officer and head of Investment Services for State Street Corporation. “It also demonstrates the essential advantage we deliver to institutional investors with leading financial platforms, data, expertise and solutions that help enhance performance and better decision making.”

State Street has been an integral part of the Boston real estate and development community over the years with headquarters buildings serving as fixtures in multiple locations including the Financial District, Back Bay and Downtown Crossing. Its history of innovation includes servicing the first US mutual fund, the first multi-currency accounting platform, launching and servicing SPY (the first and largest US-listed exchange traded fund), and launching State Street Alpha®, the industry’s first interoperable, comprehensive front-to-back solution.

The post State Street opens new global headquarters appeared first on AdviserVoice.