State Street Corporation (NYSE:STT) has announced the appointment of Andreas Przewloka as a new Executive Vice President and Chief Executive Officer (CEO) for its subsidiary State Street Bank International GmbH (SSBI). Przewloka joins from UBS and brings more than 20 years of experience to the company.

State Street Appoints New CEO in Europe

According to the press release published on Wednesday, the newly appointed SSBI CEO assumed his role effective from 1 January 2023 and will report directly to Joerg Ambrosius, the Chairman of the Board of SSBI and Chief Commercial Officer for State Street.

Przewloka succeeds Stefan Gmuer as CEO, who is changing positions after 20 years. The new CEO will be responsible for leading the Continental Europe business, using his experience gained in a number of leadership positions at UBS.

"Andreas brings the financial services experience and leadership needed to continue to drive State Street's strategy and growth across Continental Europe. He is a seasoned and well-respected executive, known for delivering client results, embracing innovation and having a keen understanding of the changing EMEA regulatory environment that will prove critical as we further strengthen our leadership position," Joerg Ambrosius said.

Przewloka's place of work will remain in Frankfurt, with an additional role as the Head of State Street in Germany. For more than two decades, he has built a network of relationships with the European Central Bank, European regulators and clients from the Old Continent.

Hiring Spree for State Street

Over the past 12 months, State Street has staffed several other top management positions. In September, one of the leading American financial firms appointed Lydia Solinski, the former Bank Liquidity Manager at 360 Trading Networks, as its new Global Head of Data, Liquidity Management and Business Intelligence.

In July, State Street picked Brenda Tsai, an industry veteran with more than two decades of experience in marketing , as the company's new Global Chief Marketing Officer. Tsai moved to State Street from DXC Technology, where she served as the Chief Marketing and Communication Officer.

Earlier, the company announced that it had named Jesse Cole as its Global Head of Private Markets. Cole is an executive veteran with 35 years of experience in the financial industry and private markets.

State Street is a leading financial services provider with $35.7 trillion in assets under custody and $3.3 trillion under management, according to its financial report ending 30 September 2022. Currently, the company operates in over 100 different markets and employs 41,000 people.