US custodian bank State Street Corporation has hired Cara Brosnan to fill a newly-created position as head of sector solutions for Australia and Southeast Asia.
She previously worked at HSBC Securities Services, where she was the Hong Kong-based regional head of insurance sector sales for Asia Pacific.
At State Street, Ms. Brosnan will lead sales across all products and client sectors, including asset managers, asset owners, insurance, official institutions, and alternatives in Australia and Southeast Asia, the company says in a statement on November 28.
She is based in Sydney and reports to Jason Rich, head of sector solutions for Asia Pacific, who says her “extensive experience in institutional sales roles combined with her comprehensive product knowledge and network will enable us to meet ever-increasing client demands”.
“Australia remains the world’s fourth-largest pension market valued at US$1.9 trillion, experiencing the highest growth rate of pension fund assets in the world…Add to this increasing interest from Southeast Asia pension in global diversification, and we see tremendous opportunities in these regions,” Mr. Rich says in the statement.
State Street had $2.95 trillion of assets under custody and administration globally as of September 2019.