State Street Global Markets, the investment research, trading and securities lending arm of State Street Corporation, has added Raymond Pestana to its EMEA transition management team.
Pestana will join State Street Global Markets’ Portfolio Solutions Group, reporting to Rick Boomgaardt, managing director and head of the transition management team for State Street in EMEA.
Before joining State Street, Pestana was a director with Bank of New York Mellon’s transition management team, where he held responsibility for managing large portfolio restructurings. He also co-founded Citi’s transition management operations.
“With more than 13 years of experience, Raymond brings a global perspective and broad capabilities in complex portfolio restructurings to our portfolio solutions group,” said Ed Pennings, senior managing director and head of the portfolio solutions group at State Street Global Markets. “As the complexity of transitions increase with the volatility of the market, Raymond’s skill set will be a valuable addition to our team of professionals.”
In the last five years, State Street reports that it has managed over 4,700 transitions for institutional investors globally.