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.

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Mostapha Tahiri

State Street has announced that Mostapha Tahiri, Asia Pacific chief executive officer, will take on additional responsibilities to lead the company’s Middle East business, effective immediately.

Tahiri will serve as head of the Middle East along with his current responsibilities for the Asia Pacific region. In his expanded capacity, Tahiri will be responsible for all business activities for the Middle East and Asia Pacific regions, including driving strategy, increasing client engagement, developing talent, pursuing growth opportunities, and managing diverse stakeholders including local officials and regulators.

Based in Singapore, Tahiri will continue to report dually to Andrew Erickson, chief productivity officer and head of International Business, and Lou Maiuri, president, chief operating officer and head of Investment Services.

“As we continue to execute our strategy to be an essential partner to institutional investors, it is critical that we continue to look for opportunities to drive growth,” said Maiuri. “The Middle East is an important market for us to grow our global business.”

“Since Mostapha joined State Street in 2020, he has proven his leadership by successfully transforming and growing our Asia Pacific franchise,” said Erickson. “Mostapha’s extensive business development and expansion experience in emerging markets, complemented by his broad segment knowledge makes him uniquely suited for this role.”

“Similar to Asia Pacific, the Middle East is a growth engine for State Street,” Tahiri said. “Building on our 30-year presence and on-the-ground service in the Middle East, I am excited to work with our teams and partners to support our clients achieving their objectives and accelerating their growth.“

Prior to joining State Street, Tahiri worked in numerous leadership positions at BNP Paribas for 20 years, including Asia Pacific chief executive officer of BNP Paribas Securities Services.

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ART was formed by the merger of Sunsuper and QSuper and manages more than AU$230 billion in retirement savings for its more than two million members^[1].

“This significant mandate demonstrates our dedication and commitment to the Australian superannuation industry,” said Mostapha Tahiri, CEO, Asia Pacific at State Street. “We are honoured to partner with ART as it enters the next phase of integration, transformation and growth following last year’s successful completion of the merger.”

State Street’s capabilities will allow ART’s in-house team to focus on core portfolio management and operational responsibilities, as well as enhancing products and services for their members.

“Institutional investors today are challenged by the depth and breadth of data available to them,” added Tahiri. “On top of our robust and scalable middle and back-office solutions, we are delighted to expand our support for ART to data management and analytics across public and private markets assets. Our innovative data solutions provide a seamless environment for ART to collect, curate and validate data so they can make better-informed decisions and effectively manage operations to serve the ultimate retirement needs of Australian superannuants.”

State Street’s rigorous data governance and operational control framework, combined with global cloud technology, provides clients with the ability to leverage the firm’s expertise, scale and infrastructure.

“Mergers mean not just an increase in scale, but also greater complexities, therefore it is critical for superannuation funds to have a middle, back-office and data management partner that can support their growth globally, and provide them access to the latest technology,” said Tim Helyar, head of Australia at State Street. “We are deeply committed to support superannuation funds’ long-term strategic objectives. We will continue to amplify our dedication to the industry with a focus on evolving our front, middle and back-office solutions to meet their unique and changing needs.”

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[1] Source: ART About

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“We are excited to be continuing our long-term partnership with the NPS,” said Ian Martin, global head of Asset Owner Segment at State Street. “Over the past decade, the NPS has diversified its investment portfolio by raising allocations to foreign and alternative assets. Searching for returns across multiple asset classes requires a fresh approach to mitigating risk and managing data. We are proud to be helping the NPS harmonize and capitalize on data. This reappointment underscores our capabilities in terms of supporting pension funds to manage risk effectively, drive operational efficiency, balance liquidity and achieve better outcomes for their members.”

State Street has been providing custody, fund accounting, performance and analytics, mandate compliance and securities lending services to the NPS’ global equity and alternatives portfolio since 2014. In 2018, the NPS appointed State Street to support its middle-office operations, including Investment Book of Record (IBOR) services, transaction management, trade processing and data consolidation and customization services.

“Over the past seven years, we have built a strong partnership with the NPS based not only our capabilities but also on our focus on continuous innovation and commitment to prioritize environmental, social and governance (ESG),” said Mostapha Tahiri, chief executive officer for Asia Pacific at State Street. “Sustainability is one of the six investment principles of the NPS and it is also a core value for State Street. We embed ESG principles into everything we do to create a more sustainable future for our business and the communities we serve. Many leading institutional investors in Asia Pacific, like the NPS, have been incorporating ESG factors into their investment processes. In the fast-paced, ever-changing financial services industry, we innovate constantly to help our clients stay abreast of and manage critical business issues.”

State Street services more than 500 asset owners across pensions, corporations, endowments and foundations globally. Its asset owner solutions range from asset management, liquidity, investment operations and global custody, to institutional accounting, and data and analytics.

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[1] Source: Reuters , April 9, 2021
[2] Source: NPS website, as of end April 2021

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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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[1] State Street Growth Readiness Study 2020, conducted by Longitude Research, surveyed 213 asset managers globally during September and October 2020.

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