State Street Names Mark Shelton as General Counsel and Terri Dempsey as Country Head of Ireland

State Street Corporation Thursday (January 4) announced that it has appointed Mark Shelton as Executive Vice President and General Counsel, and Terri Dempsey as Country Head of Ireland.

Mark Shelton

Mark Shelton, who will report to Ron O'Hanley, chairman and chief executive officer of State Street Corporation, succeeds David Phelan who announced his retirement last year.

Shelton joins State Street from Barclays International where he was general counsel overseeing legal services related to client transactions and trading as well as cross-border regulatory compliance, data security, privacy, and ESG strategy. Prior to Barclays, he was the Americas general counsel and global head of investigations at UBS. He is a former partner at Gibson, Dunn & Crutcher, where he headed the Financial Institutions Group, and at Wilmer, Cutler & Pickering, where he advised broker-dealers and investment advisors on regulatory and enforcement matters. Shelton began his legal career in the Office of General Counsel at the Securities Exchange Commission after serving as a law clerk on the US Court of Appeals for the Eighth Circuit.

"Mark is an accomplished financial institutions attorney with a commercial orientation and deep knowledge of the banking industry," said O'Hanley. "With more than 30 years practicing law in both private practice and public sector environments, he has extensive experience related to multi-jurisdictional regulatory and other sophisticated legal issues facing large, global financial institutions. We are pleased to welcome him to State Street."

Terri Dempsey

Terri Dempsey will oversee the delivery of services and strategy for all of State Street's operations in Ireland and report to Executive Vice President Cuan Coulter. 

Dempsey moves into the country head role formerly held by Tadhg Young, who recently assumed the position as head of State Street's global clients division and is now based in Boston.

Dempsey started her tenure with State Street in 2005 and has held a variety of senior positions. Most recently, she has been responsible for the global delivery operational groups and served as interim head of State Street Funds Services (Ireland) Limited. Having spent more than 25 years in the Ireland financial services industry, Dempsey brings a depth of operational, governance and management experience to her new role. 

Commenting on the appointment, Coulter said, "Terri's exceptional leadership skills, extensive knowledge of the Irish market and deep-rooted expertise in the finance industry align perfectly with our commitment to delivering unparalleled value to our clients and stakeholders. We look forward to continue working with Terri in her expanded responsibilities, leading our Ireland operation to achieve greater success."

"I look forward to leading the talented team we have built as we continue to provide innovative solutions to the financial services industry which have defined our strategy for many years. I am excited to continue to contribute to a culture that fosters collaboration and a commitment to excellence to help our global clients," said Dempsey. 

Tadhg Young served as country head of Ireland since 2018 and recently assumed the role of head of State Street's global clients division where he manages some of the largest and most complex clients around the world.