American asset manager State Street has hired Francisco Aristeguieta from Citigroup to serve as the new CEO of its international business.
At Citigroup, Aristeguieta recently headed the Asia business as CEO.
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He previously led Citigroup’s Latin America unit.
Aristeguieta will assume the new role this July, with responsibility for operations outside of the US that is said to account for over 40% of State Street’s revenues.
In the new role, he will manage talent development and client engagement.
Besides, he will pursue growth opportunities and work to enhance relationships with local regulators.
Aristeguieta will also have a seat on the management committee of State Street.
He will initially operate out of Hong Kong and report to State Street president and CEO Ron O’Hanley.
Referring to Aristeguieta, O’Hanley stated: “His deep experience and proven leadership qualities will advance our strategy and growth objectives on behalf of our clients and shareholders, and augment our already strong local management teams outside of the US.”
Outside of the US, State Street tends to customers in 28 countries and employs nearly 25,000 people.
Other recent State Street appointments
This February, State Street appointed Lou Maiuri as its COO.
Earlier this year, the firm appointed Ian Martin as its new Asia-Pacific head.
Meanwhile, the firm also announced plans to axe around 1,500 jobs in high-cost locations in a cost-cutting drive.
