David Puth has decided to leave State Street after three years heading its global markets business.
Puth joined State Street in 2008 (Squawkbox, August 25, 2008) after a 20-year career in various foreign exchange divisions of the JP Morgan group. His role was newly-created and he was given responsibility for overseeing investment research, securities finance and trading activities globally.
His specific responsibilities included advancing State Street’s electronic trading services, building its suite of portfolio products and expanding its foreign exchange and securities finance businesses.
Mike Rogers, executive vice president and head of global services Americas, will assume leadership of the global markets business in addition to his current responsibilities. Rogers is a 30-year industry veteran who led Investor Financial’s capital markets businesses before it was acquired by State Street in 2007.
A spokesperson for State Street says Puth is pursuing other opportunities in the financial services industry.
Before joining State Street, Puth was at JP Morgan in its various guises for 20 years, starting originally at Chemical Bank and rising through the ranks to become head of global currency and commodities, sales, trading and research.
He was also a member of the executive committee and the investment bank’s management committee and had responsibility and strategic oversight for the global emerging markets businesses including fixed income, currencies and research for Latin America, Eastern Europe and Asia.
Puth chaired the Federal Reserve Bank of New York’s Foreign Exchange Committee from 2001 to 2003 and served as a senior advisor to JH Whitney Investment Management.
He left JP Morgan at the end of 2006 and set up the Eriska Group, a risk management consultancy focused on alternative investments and funds management. In late 2007, he joined Icap’s board as a non-executive director, serving as a member of its audit and remuneration committees (Profit & Loss, November, 2007).