State Street announced it has appointed Joerg Ambrosius, its executive vice-president and chief commercial officer, as its new president of investment services based in Germany.
Ambrosius holds over three decades of experience in the financial services industry, including his 23 years spent at State Street. He first joined the firm in 2001 and has held various positions, including senior vice-president and chief executive for the EMEA region.
The appointment of a leader focused solely on the investment services business will enhance execution, streamline decision making, and provide clients with more effective delivery of products and services, State Street confirmed.
Ronald O'Hanley, chairman and chief executive of State Street, commented: “Joerg is a proven leader whose deep strategic insights, breadth of experience, and client focus distinguish him and will best position State Street to support our clients today and into the future.
“He has been instrumental in driving our investment services growth agenda and delivering deep client satisfaction and strong results.”
In a separate announcement, a second US-headquartered investment firm – Russell Investments – made a senior appointment by welcoming Ayesha Parra as its new global head of alternatives.
Joining last month in the New York-based position, Parra leads Russell Investments’ overall business strategy for its alternatives platform across the globe.
In particular, she oversees a team of alternatives specialists who incorporate private markets into the company’s solutions division to deliver efficient diversification and expand its alternatives capabilities.
Prior to joining Russell Investments in July, Parra spent 19 years at Goldman Sachs Asset Management where she held several leadership positions across various business units. Most recently, she played a key role within the external investing group.
“Ayesha’s expertise in portfolio management, product development, and distribution strategy will drive our efforts to deliver innovative solutions to clients. Her leadership and experience will leverage our network of alternatives specialists to develop solutions that help both institutional and retail investors tap into private market opportunities,” said Kate El-Hillow, president and chief investment officer at Russell Investments.
Through this appointment, the firm is well positioned to assist institutional and retail investors realise the benefits of private market allocations, including infrastructure and credit.
