Nicholas Lopardo, vice chairman of State Street Corporation and chairman and CEO of State Street Global Advisors (SSgA), will retire from the company and its board of directors, effective immediately.
Timothy Harbert, president of SSgA and an executive vice president of State Street, has been appointed as chairman and chief executive officer of SSgA.
Nick Lopardo joined State Street in 1987 and was instrumental in the launch of the first exchange-traded fund with the American Stock Exchange in 1993. In 1997, he was appointed as vice chairman of State Street Corporation and in 1999 he was elected to State Street’s board of directors.
Once elected to the board his responsibilities were expanded to oversee the company’s investment management and trading businesses, as well as strategy in the Asia-Pacific region. By Janet Du Chenne
Hyperbolic discounting and political temptation: Why Brexit-fuelled AE reversal would be a 'monumental' mistake
The home secretary has suggested AE should be scrapped in the event of a no-deal Brexit. Darren Philp explains why this would be misguided
The trustees of the Kodak Pension Plan No.2 (KPP2) have said it will likely enter the Pension Protection Fund (PPF) in "due course" after reviewing the scheme's investment in Kodak Alaris.
A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).
Former BHS chief Dominic Chappell has been accused of trying to rewrite history as he seeks to overturn a conviction for failing to hand over information to the regulator.