State Street has appointed its head of its securities finance Lou Maiuri as the new head of its global exchange business.
State Street launched the business back in December 2013, which offers electronic trading, clearing and data management.
Replacing his previous role will be Paul Fleming, State Street's global head of enhanced custody, who will manage the global strategic direction and operations of its agency and principal lending programmes.
Prior to joining State Street in October 2013, Maiuri held various roles at BNY Mellon, including deputy CEO of asset servicing, and head of the global financial institutions group. He has also served as COO and CEO of Eagle Investment Systems.
“By aligning our middle office business and its technology platforms with global exchange, we expect to create additional opportunities to better service our clients and manage their data,” says Maiuri.
“Having led our securities finance and investment management servicing businesses, Lou has a keen understanding of the needs of our buy-side clients,” says Rogers.
Maiuri will report to Mike Rogers, president and chief operating officer of State Street.