State Street Strengthens Asia Pacific Leadership Team with Two Senior Appointments

State Street Corporation (NYSE:STT) today announced that it has appointed Mostapha Tahiri as head of Asia Pacific and Joanne Chen as head of China, as part of its Asia Pacific expansion plan.

Joining State Street in Singapore this month, Tahiri will report jointly to Andrew Erickson, chief productivity officer and chief executive officer for State Street’s international business, and Francisco Aristeguieta, chief executive officer of State Street Institutional Services. Tahiri succeeds Ian Martin, who was appointed global head of the Asset Owner segment. In this role, Martin will drive an integrated, strategic partner approach to the firm’s asset owner clients globally.

“Mostapha and Joanne’s in-depth knowledge, banking and asset servicing experience will bring tremendous value to the firm as we continue to grow our Asia Pacific franchise,” said Erickson.

As head of Asia Pacific, Tahiri will be responsible for the strategic direction, management and growth of State Street’s overall business in Asia Pacific. Tahiri will also serve on State Street’s Management Committee, its most senior strategy and policy-making group.

Tahiri joined State Street from BNP Paribas, where he worked in numerous leadership positions over the past 20 years. Most recently, he served as the Asia Pacific CEO of BNP Paribas Securities Services and a member of their executive committee.

“We are energized by Mostapha’s addition to our leadership team in Institutional Services. He will have extraordinary impact on our strategy and execution as we drive a focused growth agenda across Asia Pacific,” said Aristeguieta.

Chen also joined State Street this month. Her last role was at BNP Paribas where she most recently served as head of China Financial Institutions Coverage. Prior to BNP Paribas, Chen worked at Deutsche Bank as head of China strategy management and head of private wealth and commercial clients.

“As we position ourselves for growth in Asia, China stands out as a very important opportunity for our clients and the firm and thus we are delighted to count on Joanne’s proven leadership and experience in that market,” added Aristeguieta.

Based in Beijing, Chen will be responsible for all State Street’s business activities in China including driving strategy, developing talent, pursuing growth opportunities as well as managing relationships with Chinese clients, partners, officials and regulators. Chen will report to Tahiri.

“I am excited to take on this strategic role leading State Street’s Asia Pacific business,” said Tahiri. “Asia Pacific has been a growth engine for State Street since it established its presence in the region more than 40 years ago. I look forward to working with the teams across the region to further expand our franchise and to support our clients’ growth and transformation ambitions. With regulatory liberalization, relaxation in restrictions for global asset managers, and the growth of onshore domestic assets, China offers a long-term growth opportunity for State Street. I can’t wait to start working with Joanne and the team to build and develop our business in this key strategic market.”  

State Street Corporation is an American financial services and bank holding company headquartered at One Lincoln Street in Boston with operations worldwide. It is the second-oldest continually operating United States bank.

With offices in Australia, Japan, China, Hong Kong, Singapore, South Korea, Taiwan, Malaysia, Thailand and Brunei, State Street provides investment servicing, investment research and trading, data and analytics and investment management to asset owners, asset managers, official institutions, insurance companies and alternative investors in Asia Pacific.