State Street Appoints New Chief Executive Officer for State Street Bank International GmbH

Rhea-AI Summary

State Street Corporation (NYSE: STT) appointed Dr. Andreas Przewloka as the new CEO of State Street Bank International GmbH effective January 1, 2023. He brings over 20 years of experience in the financial services industry, particularly within European banking and securities services. Przewloka succeeds Stefan Gmuer, who led SSBI for two decades. The transition highlights State Street's focus on enhancing its growth and strategy across Continental Europe, leveraging Przewloka’s extensive network and expertise amidst evolving regulations.

Positive

• Dr. Andreas Przewloka has extensive experience in financial services, particularly in securities and European banking.
• The leadership transition is expected to strengthen State Street's strategic positioning and growth in Continental Europe.

Negative

• Stefan Gmuer's departure may raise concerns regarding continuity in leadership after two decades.

Dr. Andreas Przewloka brings 20 years of senior financial services leadership experience to State Street

BOSTON & LONDON--(BUSINESS WIRE)-- State Street Corporation (NYSE:STT) today announced that Dr. Andreas Przewloka has been appointed as executive vice president and chief executive officer for State Street Bank International GmbH (SSBI). Przewloka, who assumed his new role effective January 1, 2023, reports to Joerg Ambrosius, chief commercial officer for State Street and chairman of the board of SSBI.

Przewloka will lead State Street’s custody and investment servicing business across Continental Europe. He brings more than two decades of financial services experience to the role, including an in-depth understanding of the securities services and European banking businesses, an extensive network of relationships with the European Central Banks and regulators, as well as strong client relationships across the continent. He joins State Street from UBS where he held various senior leadership positions, most recently serving as chief operating officer of Frankfurt-based UBS Europe SE. Przewloka will be based in Frankfurt, Germany and will also serve as State Street’s Germany country head.

Przewloka succeeds Stefan Gmuer, who has served as SSBI’s CEO for the last 20 years. Under Gmuer’s leadership, SSBI experienced significant growth through acquisitions, lift outs, organic client expansions and legal entity consolidation. Gmuer will continue to expand relationships in the official institutions segment which he will continue to lead globally as well as driving innovation and thought leadership. He will also serve as executive sponsor for a set of strategic client relationships and continue to report to Joerg Ambrosius.

“Andreas brings the financial services experience and leadership needed to continue to drive State Street’s strategy and growth across Continental Europe. He is a seasoned and well-respected executive, known for delivering client results, embracing innovation and having a keen understanding of the changing EMEA regulatory environment that will prove critical as we further strengthen our leadership position,” said Ambrosius. “I want to thank Stefan for his two decades of leadership of our Continental European operations. Our growth across the region and standing as an industry leader is a direct result of Stefan’s vision for State Street in Europe, and we are grateful he will remain in a global role as a valued member of our leadership team.”

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 $35.7 trillion in assets under custody and/or administration and $3.3 trillion* in assets under management as of September 30, 2022, State Street operates globally in more than 100 geographic markets and employs approximately 41,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of September 30, 2022 includes approximately $55 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005356/en/

Media:

Michel Chau

Mchau@statestreet.com

+44 (0) 7500 682982



Brendan Paul

Bpaul2@statestreet.com

+1 401.644.9182

Source: State Street Corporation

FAQ

Who is the new CEO of State Street Bank International GmbH?

Dr. Andreas Przewloka has been appointed as the new CEO, effective January 1, 2023.

What experience does Dr. Andreas Przewloka bring to State Street?

He brings over 20 years of leadership experience in financial services, with a strong background in European banking and securities services.

What was Stefan Gmuer's role before Dr. Przewloka's appointment?

Stefan Gmuer served as the CEO of State Street Bank International GmbH for 20 years, leading the company's growth in Europe.

How might Dr. Przewloka's appointment impact State Street Corporation's operations?

His extensive experience and network may enhance State Street's strategic operations and client relationships in Continental Europe.