State Street has appointed its new heads of Asia Pacific and China, as it moves to expand in the region.
Former BNP Paribas Securities Services APAC chief executive Mostapha Tahiri has taken the APAC lead role at State Street, replacing Ian Martin, who is moving on to become global head of the asset owner segment.
Mr Tahiri will be responsible for the group’s strategic direction, management and growth of its overall business in the APAC region, while also serving on State Street’s management committee.
He will report to Andrew Erickson, chief productivity officer and chief executive for State Street’s international business as well as Francisco Aristeguieta, CEO of State Street institutional services.
Mr Tahiri worked at BNP Paribas for 20 years, holding a number of roles including being a member of its executive committee.
Meanwhile, BNP Paribas head of China financial institutions coverage, Joanne Chen, has become State Street’s new head of China.
Previously, she worked at Deutsche Bank as head of China strategy management and head of private wealth and commercial clients.
Mr Erickson said both of the appointments will bring value to the firm as it grows its APAC franchise.
On Mr Tahiri, Mr Aristeguieta commented: “He will have extraordinary impact on our strategy and execution as we drive a focused growth agenda across Asia Pacific.”
“As we position ourselves for growth in Asia, China stands out as a very important opportunity for our clients and the firm and thus we are delighted to count on Joanne’s proven leadership and experience in that market,” Mr Aristeguieta added.
Mr Tahiri added that he is “excited” to take on the new role.
“Asia Pacific has been a growth engine for State Street since it established its presence in the region more than 40 years ago,” he said.
“I look forward to working with the teams across the region to further expand our franchise and to support our clients’ growth and transformation ambitions.
“With regulatory liberalisation, relaxation in restrictions for global asset managers and the growth of onshore domestic assets, China offers a long-term growth opportunity for State Street.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].