News

State Street hires ex-Citigroup supremo as international lead

State Street Corporation has hired Francisco Aristeguieta as the chief executive officer for its international business. Aristeguieta will join the business in July. Based in Hong Kong, he will be responsible for driving growth across Asia, the Middle East, Europe and Latin America, and he will report to State Street president and chief executive, Ron O’Hanley. Aristeguieta will also become a member of its management committee. Commenting on Aristeguieta’s appointment, O’Hanley said it “supports our goal to make State Street a more nimble and effective organisation for our clients.” The asset manager and custody bank said: “Aristeguieta will be responsible for all of State Street’s business activities outside of the US including driving strategy, stewarding client engagement, developing talent, pursuing growth opportunities and increasing market share as well as deepening relationships with local government officials and regulators. Aristeguieta’s most recently served as the chief executive of Citigroup’s Asia business, where he was responsible for 60,000 people and a third of the company’s earnings. “Prior to that role he served as head of Citigroup’s business in Latin America and before that led its transaction services group in Latin America encompassing securities servicing, trade and cash management, and was vice chairman for Banco de Chile,” State Street said in a statement. As of December 31, 2018, State Street Corporation had $31.6 trillion in assets under custody and $2.5 trillion in assets under management. ©2019 funds global asia

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