State Street Appoints Majed Al Hassoun as Head of KSA and Bahrain

State Street (NYSE: STT) has appointed Majed Al Hassoun as Country Head for Saudi Arabia and Bahrain to lead the firm's Investment Services and Global Advisors strategy in these markets.

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Very Positive)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

management

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

12/16/2024 - 03:30 AM EST

RIYADH, Saudi Arabia--(BUSINESS WIRE)-- State Street Corporation (NYSE: STT) today announced the appointment of Majed Al Hassoun as Country Head Saudi Arabia and Bahrain, to drive and execute the firm’s Investment Services and Global Advisors strategy.

Reporting to Oliver Berger, Head of Emerging Growth Markets, State Street, and Emmanuel Laurina, Head of Middle East, Africa and Official Institutions, State Street Global Advisors, Al Hassoun will drive the firm’s Middle East growth strategy for Saudi Arabia and Bahrain, and be responsible for the development and execution of an enterprise-wide approach to grow State Street’s business in these markets.

Based in Riyadh, Al Hassoun will act as CEO of State Street Saudi Arabia Financial Solutions, subject to regulatory approval, and will be responsible for ensuring the entity’s compliance with regulatory and legal expectations.

Oliver Berger, Head of Emerging Growth Markets at State Street, commented: "Our Investment Services and Global Advisors businesses are going through a significant growth journey. We are pleased to have Majed, whose experience and network will be invaluable to State Street, to join us in implementing our growth strategy in the Middle East, driving business growth as well as strengthening our presences and connections in Saudi Arabia and Bahrain.”

Emmanuel Laurina, Head of Middle East, Africa and Official Institutions, State Street Global Advisors, added: “Majed has two decades of experience in the financial services industry, and his credential as a senior leader speaks volumes, making Majed a great asset to the firm. We are all excited to have Majed as a member of the core team to deliver our ambitious plan.”

Al Hassoun also commented: “State Street’s global strength and expertise are two of the many things that truly set the firm apart. I am thrilled to join the talented team of investment services and asset management experts, and look forward to working with them to create synergy across functions and further grow our presence in the market.”

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.8 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of September 30, 2024 includes approximately $83 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Expiration Date: December 31, 2025
Tracking Number: 7437055.1.1.EMEA.RTL