BNY Mellon's former global head of operations will now be responsible for State Street's custody, middle-office, transfer agency and client service operations.
By Joe Parsons March 19, 2021 3:59 PM GMT
State Street has hired one of BNY Mellon’s top executives to run the global operations of its back- and middle-office businesses.
Ann Fogarty has joined State Street as executive vice president and deputy head of global delivery, where she will be responsible for its custody, middle-office, transfer agency and client service operations.
Fogarty also joins State Street’s management committee and will report to Liz Nolan, executive vice president and head of global delivery.
She joins from BNY Mellon where she was most recently its global head of operations and an executive committee member. Fogarty was responsible for leading the global operations organisation and supporting every stage of the client investment lifecycle, overseeing a team of 20,000.
During her more than 30 years with BNY Mellon, she held several senior roles including head of EMEA investment operations, managing director of BNY Mellon fund services in Ireland, and global head of fund accounting and administration.
“Ann brings significant global operations expertise across all ranges of complex fund structures and jurisdictions,” said Nolan. “She has a keen understanding of the needs of our clients and her depth and breadth of capabilities, particularly in the custody and fund administration space, will help us continue to scale our operating model while providing our clients with continued high-quality service and delivery.”
Fogarty also brings an extensive experience in leading global, cross-business initiatives across all aspects of the trading lifecycle, while also having managed teams and projects across EMEA, Latin America and the APAC region.
“I look forward to this next chapter of my career and working with the global teams and clients to continue to build on the strong foundation of innovation and service excellence that State Street has established,” added Fogarty.
For BNY Mellon, the world’s largest custodian will have to find its third global head of operations in three years.
Fogarty took on the role permanently in September last year following the departure of Lester Owens, who linked up with BNY Mellon’s former chief executive Charlie Scharf at Wells Fargo in April.