State Street Corporation announced senior management changes to help build on its business momentum and deliver its strategic growth objectives. Lou Maiuri has been appointed to president and head of Investment Services and Eric Aboaf, chief financial officer, to vice chairman. Maiuri and Aboaf will both continue to report to Ron O'Hanley, chairman and chief executive officer.

Maiuri now has end-to-end responsibility for all facets of State Street's Investment Services business, including client management, product, technology and operations. This expanded role will help promote alignment of State Street's products and solutions and differentiate its offerings in support of clients. It will also facilitate sales and revenue growth and achievement of the company's medium-term financial targets.

In addition to Aboaf's appointment to vice chairman, he now has expanded responsibility for State Street's Global Markets business. This provides Aboaf with direct management of all aspects of State Street's balance sheet and the use of the balance sheet on behalf of clients. His role across all uses of balance sheet will create additional growth and efficiencies, further drive balance sheet optimization, and promote capital return to shareholders.