State Street Corporation announced today the appointments of Jörg Ambrosius and Mike Fontaine as co-heads of Global Services, EMEA. This follows the promotion of Liz Nolan to chief executive officer, EMEA and the upcoming departure of Susan Dargan, who steps down to pursue personal interests.

Ambrosius, who most recently held the title of head of Sector Solutions, EMEA, will remain based in Munich; whilst Fontaine, who was previously held the title executive vice president, US Investor Services, has relocated from Boston to Dublin. Both will report to Nolan, as well as to Andrew Erickson, head of the Global Services business worldwide.

Within their roles as co-heads of Global Services, EMEA, Ambrosius and Fontaine will continue to drive and execute State Street’s servicing strategy for the domestic markets in region, with Ambrosius focused on onshore and Fontaine focussed on offshore markets.

“Jörg and Mike have held various senior client-focused, risk management and operational positions in financial services for more than four decades combined,” commented Erickson. “Both have proven track records for managing delivery to some of our largest and most complex global clients, and we’re confident they will continue to add tremendous value to our business.”

“The EMEA region is a key contributor to the global State Street franchise,” said Nolan. “The appointments of Jörg and Mike will further strengthen our presence within the region which, when combined with our global footprint and ongoing investment in technology and innovation, will enable us to deliver the whole of the firm to support the needs of our clients.”

In addition to being co-heads for Global Services in EMEA, Ambrosius will assume responsibility for State Street’s Global Exchange (GX), Investment Manager Services (IMS) and Alternative Investment Solutions (AIS) businesses in the region; whilst Fontaine will oversee the International Financial Data Services (IFDS) service delivery for State Street.

Ambrosius and Fontaine will both sit on Nolan’s EMEA management committee; as well as Erickson’s Global Services management team.

Source: State Street