Damian Hoult has taken the role, where he is working with asset managers and asset owners to offer State Street’s outsourced trading service.
Based in Sydney, Mr Hoult is working with clients across the Asia-Pacific region and being held responsible for developing sales strategies as well as contributing to the development of the outsourced trading product.
James Woodward, head of portfolio solutions for State Street Global Markets in Asia Pacific, commented State Street is pushing the service in response to changes in the industry.
“Trends such as consolidation, margin compression and changing regulatory demands are putting pressure on costs, which is why outsourced trading is becoming a compelling option for many institutional investors,” Mr Woodward said.
“An increasing number of asset managers and asset owners are likely to move to outsourcing some of their trading. Clients benefit from experienced trading personnel, access to liquidity, state-of-the-art technology and a continued focus on execution quality, without having to build, pay or maintain it for themselves.”
Mr Hoult previously worked with State Street, as its APAC head of agency execution at State Street Global Markets, and he commented that it is an exciting time to be returning to the company.
He has a reported 25 years’ industry experience, most recently being chief executive of Basis Global Analytics.
Mr Hoult has also previously been global head of trading and execution services at Macquarie Securities where he oversaw global portfolio trading, electronic execution and transition management.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
