A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
Asia Pacific head promoted at State Street
(Pictured: Wai Kwong Seck)
State Street’s Asia Pacific head of global services and global markets, Wai Kwong Seck, has been promoted to its group management committee in a series of promotions including that of a new group chief operating officer.
The Boston-based bank and fund manager announced last week that Mike Rogers has become president and COO, splitting off some of the responsibilities of chairman and CEO Jay Hooley.
Rogers is head of asset servicing in the Americas and the research and trading businesses globally. He will continue to report to Hooley in his new role.
Two group executive vice presidents, Wai Kwong Seck and US-based Gunjan Kedia, have joined the management committee. Kedia is head of investment servicing in the Americas for mutual funds, insurance companies and institutional clients. She reports to Rogers.
Seck, who reports to State Street’s vice chairman and head of international, Joe Antonellis, joined the firm in 2011 from the Singapore Exchange where he was CFO.
