Asset Servicing

State Street Corp. appoints CEO of international business

Francisco Aristeguieta was named CEO of State Street Corp. (STT)'s international business, a spokesman said.

The position is new. Mr. Aristeguieta, effective in July, will be responsible for all business activities outside of the U.S. including growth strategy, client engagement and increasing market share. He will also be responsible for relationships with local government officials and regulators.

Initially based in Hong Kong, Mr. Aristeguieta will report to Ron O'Hanley, State Street president and CEO, and become a member of the firm's management committee.

"(Mr. Aristeguieta's) deep experience and proven leadership qualities will advance our strategy and growth objectives on behalf of our clients and shareholders, and augment our already strong local management teams outside of the U.S.," Mr. O'Hanley said in a news release.

Mr. Aristeguieta most recently served as CEO of Citigroup's Asia business. He will leave on April 19, a Citi spokeswoman said, adding that Tim Monger, head of productivity, will be interim CEO for the region.

State Street had $31.62 trillion in assets under custody and administration and $2.51 trillion in assets under management as of Dec. 31.