State Street Names Head of Securities Finance and Trading

August 20, 2008 ( - State Street Corporation has announced that David Puth has been named to a newly created position as head of State Street's investment research, securities finance and trading activities worldwide.

Puth will report to Jay Hooley, president and chief operating officer of State Street. He will also join the company’s Operating Group, State Street’s senior-most strategy and policy-making team, according to the announcement.

Puth has more than two decades of experience managing and leading capital markets and trading businesses within global financial firms in Europe and the United States including Citigroup and JP Morgan heritage corporations. At JPMorgan Chase, Puth was a member of the firm’s Executive Committee and the Investment Bank’s Management Committee and was head of Global Currency and Commodities, Sales, Trading and Research.

He also had responsibility and strategic oversight for JPMorgan’s Global Emerging Markets businesses including fixed income, currencies and research for Latin America, Eastern Europe and Asia.

“State Street’s research and trading business strategy has avoided the traditional sell-side approach in favor of one that is truly transformational and client-focused in terms of its neutrality and ability to simultaneously serve the needs of asset owners, asset managers and broker dealers. Aligning this business more closely with what is a world-class leading securities finance capability will greatly enhance the services we can provide to clients worldwide,” Puth said in the announcement.