State Street Corporation

06/08/2021 | Press release | Distributed by Public on 06/08/2021 09:32

State Street Appoints New Heads of Hong Kong and Taiwan

HONG KONG, June 8, 2021-State Street Corporation(NYSE:STT) today announced the appointments of Pauline Wong as head of the Hong Kong Special Administrative Region (Hong Kong) and Ilona Chen as head of Taiwan, effective immediately. These newly created roles will report to Mostapha Tahiri, chief executive officer for Asia Pacific.

Based in Hong Kong and Taipei respectively, Wong and Chen will be responsible for leading and executing the enterprise-wide business strategy, developing talent, and managing relationships with local government officials and regulators in Hong Kong and Taiwan. Wong and Chen will oversee all State Street's businesses in Hong Kong and Taiwan respectively.

'We are delighted to promote Pauline and Ilona to these new roles,' Tahiri commented. 'State Street has been supporting clients in Hong Kong for almost 40 years and in Taiwan since 1995. It's our ambition to continue to support our clients in these two markets to achieve their growth objectives by bringing them all State Street's solutions and integrated value proposition. With Pauline and Ilona's on-the-ground experience and leadership, we will be able to build upon and expand our position as a leading provider of investment management services throughout the Asia Pacific region.'

Wong joined State Street in 2011 and was most recently Asia Pacific Lead for the firm's Client Program Office. Wong has more than 20 years of experience in financial services. Before joining State Street, she worked in various positions at HSBC in trustee services, private banking and securities services covering the Asian region.

'Hong Kong is an important cross border hub for inbound and outbound investment in Mainland China,' said Wong. 'The financial infrastructure connecting Hong Kong with the Mainland has continued to grow. State Street will continue to deliver innovative asset servicing solutions to help pension funds, official institutions, asset managers and exchange traded fund (ETF) providers remain competitive in a rapidly evolving market environment.'

Chen joined State Street in 1993 and helped establish the firm's asset servicing business in Taipei in 1995. Her most recent role was head of Institutional Services for Greater China.

'Taiwan continues to contribute significantly to State Street's growth in Asia Pacific,' said Chen. 'By providing dedicated enterprise-wide support to securities investment trust enterprise (SITE) funds, insurance companies and official institutions in Taiwan, we are uniquely positioned to further expand our custody, local fund accounting, foreign exchange trading and transfer agency businesses in the market.'

State Street opened its Hong Kong and Taiwan offices in 1982 and 1995 respectively. It offers asset managers, asset owners, insurance companies, alternative asset managers and official institutions a complete range of financial services across the investment spectrum.


About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $40.3 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of March 31, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Important Information

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for decisions based on such information and it should not be relied on as such.


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Expiration date: 6/30/2022