State Street names Chief Information Officer

State Street Corporation has appointed Brian Franz as chief information officer (CIO). Franz, who joins the Company in January 2020, will report to Chief Operating Officer, Lou Maiuri and become a member of State Street’s Management Committee, its senior-most strategy and policy making group.

Franz comes to State Street from Diageo PLC, a publicly traded multinational company, where he most recently served as chief productivity officer leading information technology, enterprise operations and business service functions across the company. Franz joined Diageo in 2008 as global chief information officer having served as CIO for PepsiCo International and in a number of technology leadership roles at global companies including GE (and GE Capital) and AT&T.

“We are delighted to have Brian join our team,” says Maiuri. “He brings to State Street a unique combination of experience, knowledge and deep technology and operations prowess. He adds to this a strong focus on productivity and continuous improvement, at the core of which is a better client and employee experience. The CIO of the future needs to be as much a business leader as a technology visionary, and we benefit from both with Brian.

“His experience across both consumer and business-oriented brands, particularly harnessing the power of data and analytics to drive better client outcomes will also greatly support the continued advancement of our State Street AlphaSM platform strategy.”

Franz has deep experience in the deployment of artificial intelligence, machine learning and robotics to drive efficiency and effectiveness as well as to enable business growth and client satisfaction. During his tenure at Diageo he led initiatives that delivered more than £700 million in savings and advanced business growth, including implementing cloud powered, globally scaled and standardized solutions. Franz also has extensive cyber and resiliency experience.

“I am excited to join State Street and to help it realise its vision of being the world’s leading provider of asset intelligence to the owners and managers of the world’s capital,” says Franz. “This is a company that occupies a unique space in financial services and one in which there is much opportunity to differentiate through next-generation technology, high productivity and global scale. I look forward to making a positive impact and to leading a world-class team.”