Four State Street executives let go in company restructure
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Four State Street executives let go in company restructure 07 February 2019 London Reporter: Maddie Saghir
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State Street has let go of four senior executives in its securities lending, alternative financing solutions and enhanced custody sectors.
Jim McDonald, Doug Brown, James Bryant and Jamila Jeffcoate have all been axed from their posts.
McDonald was head of global for securities lending and worked in State Street’s Boston office.
Brown worked as global head of alternative financing solutions in the firms Boston office and had worked there for over seven years.
Bryant who had worked at State Street for 14 years in a number of roles, was global head of business development, enhanced custody, working out of Massachusetts.
Jeffcoate, head of agency securities lending in Europe, the Middle East and Africa, was based in London and worked at State Street for 16 years.
A spokesperson for State Street said: “Securities finance is committed to creating a high performing organisation in line with State Street’s broader strategic goals.”
“To deliver this, we are restructuring our business to move towards a more integrated and agile model. This new model will enable us to better leverage our talent, provide even stronger client and counterparty coverage globally and contribute to the firm’s goal of creating the industry’s first-ever global, interoperable, front-to-back platform.”
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