The sales and business development executive brings 17 years of banking and financial sector experience to State Street.
State Street has appointed Cara Brosnan to the newly created role of Sector Solutions head for Australia and Southeast Asia, the global custodian announced in a statement on Tuesday.
Brosnan, who will be based in Sydney, will lead the firm's sales across all its products and client sectors, including asset managers, asset owners, insurance, official institutions and alternatives in Australia and Southeast Asia. She reports to Jason Rich, head of Sector Solutions, Asia-Pacific.
She was previously based in Hong Kong, where she led HSBC’s custody and fund administration growth in the insurance sector across Asia. Prior to that, Brosnan was the sales director for HSBC Securities Services in Australia and Europe.
«Tremendous Opportunities»
There are «tremendous opportunities» in the region, said Rich. He noted Australia's $1.9 trillion pension market – the fourth-largest globally – and increasing interest from Southeast Asia pensions in global diversification as reasons for State Street's push.
Earlier this year, the firm appointed 25-year State Street veteran Ian Martin as head of Asia-Pacific. He succeeded Wai-Kwong Seck who, after eight years in the role decided to pursue other opportunities closer to his hometown of Singapore.
