State Street Appoints Industry Experts to Bolster its Financing Solutions and Collateral Optimization Group

Rhea-AI Summary

State Street Corporation (NYSE: STT) has appointed Staffan Ahlner as the global head of Collateral+ within its Funding and Collateral Solutions group, aiming to enhance its collateral management capabilities. Ahlner, formerly of BNY Mellon, brings valuable experience to the role. Additionally, Yalini Isweran has joined to focus on product innovation and business development. Recent survey findings revealed that 81% of asset managers are unprepared for upcoming Uncleared Margin Rules.

Positive

• Appointment of Staffan Ahlner expected to enhance collateral management capabilities.
• Yalini Isweran's focus on product innovation may improve client solutions.

Negative

• 81% of asset managers are unprepared for Uncleared Margin Rules compliance.

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced the appointment of Staffan Ahlner as global head of Collateral+, a part of the Funding and Collateral Solutions group of State Street. Ahlner, who previously led BNY Mellon Markets’ global collateral management business, will enhance State Street’s Collateral + team to build on the company’s core collateral management capabilities and develop future collateral management solutions. Ahlner will report into Gino Timperio, head of Funding and Collateral Solutions for State Street Global Markets.

Additionally, Yalini Isweran has also joined State Street to focus on product innovation and business development for the bank’s suite of global financing and collateral solutions. Isweran, who most recently worked as part of BNY Mellon’s strategy team, will now develop solutions that aim to address the collateral, trading and liquidity challenges of State Street’s clients.

Earlier this year, State Street released survey findings that measured the perceptions, plans and readiness of 300 asset managers and asset allocators in 16 countries around the Uncleared Margin Rules (UMR), which were set in motion in 2008 to reform the over-the-counter (OTC) derivatives market following the global financial crisis. The survey revealed that 81 percent of institutions with a September 2021 (Phase V) or September 2022 (Phase VI) deadline are unprepared to comply with all facets of UMR.¹

“We understand that this is a critical time for buy-side firms of all sizes and that UMR continues to be a pressing challenge, and are very pleased to have Staffan and Yalini joining our team to further strengthen our collateral management capabilities,” said Timperio. “Their strategic experience across multiple markets will bring immediate value to our clients who are seeking to optimize their assets.”

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 $36.6 trillion in assets under custody and/or administration and $3.1 trillion* in assets under management as of September 30, 2020, 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 September 30, 2020 includes approximately $81 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.

© 2020 State Street Corporation - All Rights Reserved

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¹ State Street engaged Oxford Economics to field a global survey of 300 industry executives from 16 countries during June 2020.