State Street Corporation has promoted Sri Pools to head of India, succeeding company veteran Michael Brager who has been appointed head of global hubs, a newly created position.
Mr. Brager, who has worked at State Street since 1990, will oversee the US custodian bank’s businesses in Poland, Hangzhou in China, and India in his new role.
Mr. Pools, previously the company’s head of business operation for India, remains based in Bengaluru, in the southern Indian state of Karnataka.
He reports to Mr. Brager, who will “drive the firm’s hub strategy to strengthen delivery and improving cross-hub consistency and training to meet evolving client needs”, State Street says in a statement on November 4.
Mr. Brager will still be based in India.
State Street entered India in 2007 and now has offices in Bengaluru, Hyderabad and Mumbai.
“India is [a] strategically important region to State Street and I look forward to driving local delivery across operations, technology and corporate functions,” Mr. Pools says in the statement.
Boston-based State Street had US$32.9 trillion of assets under custody and administration and $2.95 trillion of assets under management as of September 2019.