State Street hired a new head of sector solutions for Australia and Southeast Asia, as the firm looks to expand in the region.
Cara Brosnan has been appointed into the newly-created role, which will see her lead sales across all of State Street's products and client sectors including asset managers, asset owners, insurance, official institutions and alternatives.
Brosnan has over 17-years' experience in sales and business development roles with the banking and financial services industries.
Prior to joining State Street she served as the regional head of insurance sector sales for HSBC Securities Services in Asia Pacific.
Based in Hong Kong, she was responsible for leading HSBC's custody and fund administration growth in the insurance sector across Asia.
Before moving to Hong Kong, she was the sales director at HSBC Securities Services in Australia and Europe, and was responsible for developing and signing new business opportunities across global custody, investment administration, FX and securities lending for the investment management industry.
Brosnan will report to Jason Rich, head of sector solutions for the broader Asia-Pacific region. Rich said he is delighted for Brosnan to join the team.
"Her extensive experience in institutional sales roles combined with her comprehensive product knowledge and network will enable us to meet ever-increasing client demands, and further expand our business in Australia and Southeast Asia," Rich said.
"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 pensions in global diversification, and we see tremendous opportunities in these regions."