State Street has recruited Kevin Sullivan and Neil Wright to senior vice presidents with responsibility for overseeing the ongoing development of State Street's derivative processing capabilities.
Sullivan co-founded Eagle Investments Systems in 1989. The company was acquired by Mellon Financial in 2001, and Sullivan remained to serve as Eagle's chief technology officer up until 2006. As a product specialist at State Street, Sullivan will be responsible for building the technology infrastructure to support the company's derivative processing.
Wright joined State Street from Citigroup where he was a director of derivative operations. Prior to this role, he was senior vice president of asset manager solutions for JPMorgan Chase. As a product expert, he will be responsible for developing strategies to support State Street's derivative servicing capabilities working closely with the business leaders, derivative specialists and information technology teams.
'These two industry veterans have devoted a considerable portion of their respective careers to developing the most sophisticated derivative processing capabilities,' said Joseph Antonellis, vice chairman, chief information officer and head of State Street's North American investor services business. 'Staying ahead of industry trends and automating the derivative servicing process will be key challenges for service providers. We are delighted to add the extensive experience that Kevin and Neil will bring to our teams and to the development of a derivatives center of excellence.'
Sullivan and Wright will further build on State Street's derivative servicing capabilities for its customers who are increasingly using derivative instruments as investment tools in their portfolios.