State Street appoints Hostin as global head of agency lending
15 May 2023 US
Image: LinkedIn
State Street has appointed Patricia Hostin as global head of its Agency Securities Lending business.
Based at the firm’s Boston headquarters, Hostin will be responsible for overseeing the entire business globally, while working collaboratively across key business and support functions to ensure State Street delivers its securities lending product.
Hostin will report directly to Gino Timperio, global head of financing solutions for State Street Global Markets.
Bringing more than 20 years of experience to the firm, Hostin was most recently managing director for BlackRock’s Financial Resource Management business.
In her former role, Hostin executed BlackRock’s global strategy for optimising capital and balance sheet consumption, with broker-dealer counterparties across repo financing, securities lending, prime brokerage financing, cash management and trading.
Hostin was also a member of BlackRock’s Balance Sheet Steering Committee, BlackRock’s New York Leadership Team and is a Risk Management Association (RMA) Committee representative.
The announcement marks another key appointment for State Street, following on from the hire of Taryn Siglain, who was selected as the firm’s new global head of Enhanced Custody — State Street’s principal securities lending programme.
State Street says that Agency Securities Lending has been a core business unit within the firm for more than 50 years, with nearly US$5 trillion in lendable assets and an ‘extensive’ global operating model.
Commenting on the senior appointment, Timperio says: “We are very excited to welcome Patricia to State Street, as she’s a seasoned leader who joins us at an optimal time to provide important leadership to our agency securities team.
“Her experience in the industry, coupled with her strong leadership background, will prove invaluable as we look to further strengthen our lending business to meet the multifaceted needs of our clients.”
Hostin adds: “I am pleased to join State Street and I am looking forward to working with a talented team of agency lending professionals to deliver for our clients.”
Based at the firm’s Boston headquarters, Hostin will be responsible for overseeing the entire business globally, while working collaboratively across key business and support functions to ensure State Street delivers its securities lending product.
Hostin will report directly to Gino Timperio, global head of financing solutions for State Street Global Markets.
Bringing more than 20 years of experience to the firm, Hostin was most recently managing director for BlackRock’s Financial Resource Management business.
In her former role, Hostin executed BlackRock’s global strategy for optimising capital and balance sheet consumption, with broker-dealer counterparties across repo financing, securities lending, prime brokerage financing, cash management and trading.
Hostin was also a member of BlackRock’s Balance Sheet Steering Committee, BlackRock’s New York Leadership Team and is a Risk Management Association (RMA) Committee representative.
The announcement marks another key appointment for State Street, following on from the hire of Taryn Siglain, who was selected as the firm’s new global head of Enhanced Custody — State Street’s principal securities lending programme.
State Street says that Agency Securities Lending has been a core business unit within the firm for more than 50 years, with nearly US$5 trillion in lendable assets and an ‘extensive’ global operating model.
Commenting on the senior appointment, Timperio says: “We are very excited to welcome Patricia to State Street, as she’s a seasoned leader who joins us at an optimal time to provide important leadership to our agency securities team.
“Her experience in the industry, coupled with her strong leadership background, will prove invaluable as we look to further strengthen our lending business to meet the multifaceted needs of our clients.”
Hostin adds: “I am pleased to join State Street and I am looking forward to working with a talented team of agency lending professionals to deliver for our clients.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
