State Street has announced the appointments of Jörg Ambrosius and Mike Fontaine as co-heads of global services, EMEA. This follows the promotion of Liz Nolan to chief executive officer, EMEA and the upcoming departure of Susan Dargan, who steps down to pursue personal interests.
Ambrosius, who most recently held the title of head of sector solutions, EMEA, will remain based in Munich; whilst Fontaine, who was previously held the title executive vice president, US investor services, has relocated from Boston to Dublin. Both will report to Nolan, as well as to Andrew Erickson, head of the global services business worldwide.
Profit & Loss understands that Wai-Kwong Seck, CEO of State Street in the Asia Pacific region (APAC) and member of the bank’s Management Committee, is leaving after an eight year career. According to an internal memo seen by Profit & Loss Seck will be replaced by Ian Martin, currently EVP Asia Pacific at the bank and formerly head of Global Markets for the bank in the region.
In the memo, Ron O’Hanley president and CEO of State Street thanks Seck for his time at State Street and says, “Wai-Kwong and I have been speaking for some time about his desire to be back in his hometown, Singapore, and to do something different