State Street Appoints Industry Experts to Bolster its Financing Solutions and Collateral Optimization Group
08 December 2020 - 11:40PM
Business Wire
Strategic Hires Follow Recent Survey Results that Found a
Significant Proportion of Institutions are Behind in their
Preparations for the Uncleared Margin Rule
State Street Corporation (NYSE:STT) today announced the
appointment of Staffan Ahlner as global head of Collateral+, a part
of the Funding and Collateral Solutions group of State Street.
Ahlner, who previously led BNY Mellon Markets’ global collateral
management business, will enhance State Street’s Collateral + team
to build on the company’s core collateral management capabilities
and develop future collateral management solutions. Ahlner will
report into Gino Timperio, head of Funding and Collateral Solutions
for State Street Global Markets.
Additionally, Yalini Isweran has also joined State Street to
focus on product innovation and business development for the bank’s
suite of global financing and collateral solutions. Isweran, who
most recently worked as part of BNY Mellon’s strategy team, will
now develop solutions that aim to address the collateral, trading
and liquidity challenges of State Street’s clients.
Earlier this year, State Street released survey findings that
measured the perceptions, plans and readiness of 300 asset managers
and asset allocators in 16 countries around the Uncleared Margin
Rules (UMR), which were set in motion in 2008 to reform the
over-the-counter (OTC) derivatives market following the global
financial crisis. The survey revealed that 81 percent of
institutions with a September 2021 (Phase V) or September 2022
(Phase VI) deadline are unprepared to comply with all facets of
UMR.1
“We understand that this is a critical time for buy-side firms
of all sizes and that UMR continues to be a pressing challenge, and
are very pleased to have Staffan and Yalini joining our team to
further strengthen our collateral management capabilities,” said
Timperio. “Their strategic experience across multiple markets will
bring immediate value to our clients who are seeking to optimize
their assets.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $36.6 trillion in assets
under custody and/or administration and $3.1 trillion* in assets
under management as of September 30, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2020 includes
approximately $81 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2020 State Street Corporation - All Rights Reserved
3359077.1.1.GBL.RTL
1 State Street engaged Oxford Economics to field a global survey
of 300 industry executives from 16 countries during June 2020.
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version on businesswire.com: https://www.businesswire.com/news/home/20201208005659/en/
Brendan Paul BPaul2@statestreet.com +1 401 644 9182
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