Global Exchange reorganizes existing components from State Street’s research and advisory, analytics, Currenex, Global Link, and derivatives clearing capabilities.
State Street has announced the return of industry veteran Jeff Conway after five years of stints at big names such as Boston Consulting Group and HSBC.
Jeff Conway, who was at State Street from 1998 to 2019, rejoins to lead the firm’s Global Exchange, dedicated to developing solutions to address clients’ data information and trading challenges.
Global Exchange reorganizes existing components from State Street’s research and advisory, analytics, Currenex, Global Link, and derivatives clearing capabilities into one organization focused on providing clients with easier access to solutions and accelerating new product development.
Jeff Conway, executive vice president and 25-year industry veteran will report to Jack Klinck, a member of State Street’s Management Committee and head of global strategy and new ventures.
A long tenure and legacy at State Street
A financial services leader, board director, and business advisor with a long tenure and legacy at State Street Corporation and, most recently, HSBC Group for driving strategic growth, operational, and organizational transformations. Jeff has enjoyed success in creating groundbreaking client experience transformations and digital technology change worldwide.
Jeff was the Non-Executive Chairman at Universal Investment Group, a European based investment company with €600B in assets under administration. Jeff also served as a Board Director for Mercatus, a leading FinTech provider of alternative asset investment solutions. In addition to his Board work, Jeff is a Senior Advisor within Boston Consulting Groups’ Financial Institutions Practice, providing advice and coaching to BCG’s clients on business strategy and transformative, effective execution, innovation, and the building of capabilities. Jeff also provides business and technology advisory support to a number of private equity firms and select various staged FinTech companies.
Jeff was a member of the State Street Management Committee, key role on company’s most senior strategy and policy-making team. He had a wide range of global leadership roles including learning businesses in both Europe and Asia Pacific. He was Chief Executive Officer of State Street in Europe, the Middle East and Africa (EMEA). At HSBC, Jeff is the Global Chief Operating Officer for the Investment Bank and Commercial Bank. He is a member of the executive and operating committees for Global Banking and the Commercial Bank.
The issue of data integration
Jack Klinck, Head of Global Strategy and New Ventures at State Street, said: “Driven by regulatory reform, complexity and transparency, clients want access to real-time data and analytics to better inform their investment and trading decisions. Our goal is to support our clients’ trade lifecycle from investment decision to post-trade administration, minimizing trading and operational costs.”
Jeff Conway commented on his appointment: “In a survey we conducted last year with the Economist Intelligence Unit, the issue of data integration was at the forefront of clients’ operational challenges. Nearly half (46 percent) of asset owners rated their ability to achieve a comprehensive look-through of their portfolio across all security types and investment structures as less than good. And over the next three years, almost two-thirds (63 percent) of asset owners surveyed expected their data management challenges to increase. We believe we are assembling the right combination of technology, expertise and platforms to help solve these challenges.”
