Business Wire 12-Jan-2018 11:40 AM
Firms Latest Study Reveals the Most Significant Pressures Insurers Face Today and What They Must do to Remain Competitive
BOSTON--(BUSINESS WIRE)-- State Street Corporation (NYSE: STT) today announced several recent appointments for its Insurance Solutions business including that Christopher Dailey has joined to lead relationship management in North America.
In this newly-created role, Daileys focus will be on service delivery and aligning the breadth of State Streets custodial capabilities with clients business objectives. Prior to joining State Street, Dailey spent several years with J.P. Morgan Investor Services in an insurance-centric relationship management and sales position.
Dailey is reporting to Ivan Matviak, who recently took on a new role within State Street as global head of the firms Insurance Solutions business. Matviak previously led State Streets data and analytics business, State Street Global Exchange, in North America.
The Insurance Services team also announced the following additional appointments:
Our Insurance clients want a nimble and reliable partner that can provide more than traditional accounting and administration services, said Matviak. As a market leader with unique technology and data advantages, these new appointments will further enable us to meet our clients goals and ambitions.
State Street recently released a new thought leadership report focused on the insurance sector, Capturing Opportunity through Technology: Growth Readiness for Insurers. The report highlights how insurers business models are facing significant pressures from regulatory complexities to demographic shifts, and suggests that unless they change, there could be negative consequences to revenue growth and profit margins.
Key findings from the report include:
As part of the report, State Street outlined three keys to growth for insurers:
Click here to read the full Growth Readiness report for Insurers.
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 $32.1 trillion in assets under custody and administration and $2.67 trillion* in assets under management as of September 30, 2017, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Streets website at www.statestreet.com.
* AUM reflects approx. $36 billion (as of September 30, 2017) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.
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Source: State Street Corporation
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