State Street Global Markets names EMEA portfolio solutions chief

John Minderides was named head of State Street Global Markets' portfolio solutions business for Europe, the Middle East and Africa, spokeswoman Noreen Shah said.

Based in London, Mr. Minderides replaced Ed Pennings, who left the firm amid a transaction fees dispute last year in which State Street later reimbursed an unidentified U.K. client. The pricing overcharge was reported to the U.K.'s Financial Services Authority.

State Street had conducted its own internal investigation, and Mr. Pennings' departure resulted from that investigation, according to spokeswoman Lucy Davidson at the time.

Mr. Minderides was managing director and global head of transition management at J.P. Morgan; he left that firm in 2010.

Separately, Nicholas Bonn, executive vice president, was also named global head of portfolio solutions business at State Street Global Markets. Mr. Bonn will retain his previous duties as head of the securities finance division.

— Contact Thao Hua at thua@pionline.com | @Hua_PI