Who we are looking for
State Street's Wealth Services business unit is seeking a dynamic leader to serve as the Head of Wealth Strategy & Business Development. This role will be pivotal in leading overall strategic planning initiatives, developing and commercializing strategic partnerships, and identifying relevant acquisition targets to complement our capabilities in wealth servicing and software. In addition, the executive will also be responsible for establishing our marketing agenda and leading initiatives.
Why this role is important to us
State Street Wealth Services seeks to enable wealth advisors and their investment managers to achieve better outcomes for their clients and themselves, thereby enabling revenue growth across all areas of State Street. The Head of Wealth Strategy and Business Development will play a critical role in realizing this vision by leading overall strategic planning, developing and commercializing strategic partnerships, identifying relevant acquisition targets and minority investments to complement our capabilities in wealth servicing and software, and establishing our marketing agenda. Join us if making your mark in an ever-changing, increasingly complex and competitive industry is a challenge you are up for.
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What you will be responsible for
The Head of Wealth Strategy and Business Development for Wealth Services is responsible for managing a wide range of strategy and execution activities for the business, including:
- Refining and executing growth strategy for a substantial, market-leading offering through driving strategic and business development initiatives
- Driving strategic and operating planning processes in partnership with other leaders
- Identifying and developing relationships with clients and other third parties, and engaging c-suites of target clients
- Developing the global ecosystem for Wealth Services including strategic partnerships with clients, fintech firms, custodians, data providers, and other third parties
- Identifying strategic partners and working with enterprise M&A teams to evaluate minority investment and acquisition opportunities
- Develop and frame commercial relationships with strategic partners including specifying relevant commercial terms, finalizing contractual arrangements and driving ongoing relationship management
- Plan and execute business development initiatives in close collaboration with senior management and product management, including identifying potential targets for acquisition
- Establishing and executing the marketing agenda for Wealth Services
- Manage Chief of Staff responsibilities inclusive of;
- Establishing clear goals and metrics (OKRs - Objectives and Key Results) for Wealth Services, and overseeing their delivery
- Leading materials for Quarterly Business Reviews (QBRs) with State Street's CEO, and for meetings with State Street's Executive Committee, State Street's Board of Directors, Investor Relations / Shareholders, Client Advisory Board and other groups
- Manage attainment of budgets and lead Business Intelligence Projects, in partnership with teams such as finance and talent
- Implementing best practices, policies, and cross-business initiatives aimed at creating organizational efficiency, effectiveness, and improved client experience
What we value
These skills will help you succeed in this role:
Ideal Competencies & Experience
- Relevant transaction experience in crafting strategic alliances, partnerships, and investments
- Proven record of leading M&A negotiations
- Extensive experience building Pro Forma financials reflecting revenue and cost synergies
- Proven skillset in translation of industry / client themes and trends into actionable strategy, partnering effectively with a wide range of internal and external constituents
- Strong cross-functional executive presence, ability to host C-suite discussions internally and externally, drive organizational alignment; sales or operational experience a plus
- Demonstrated ability to achieve strategic business, financial performance and exemplary client satisfaction results
- A customer orientation which allows him/her to solicit, acquire, and act on information from customers concerning their current and future needs, issues, and challenges
Education & Preferred Qualifications
- Undergraduate degree minimum and graduate degree / MBA preferred
- 15+ years of related experience with 10+ years in the Financial Services industry
- Top-tier investment banking, business development, or corporate development experience preferred, particularly with exposure to Financial Services / FinTech
- Proven experience successfully recruiting and building world class teams
- Ability to make tough decisions, to change and adapt quickly, while remaining focused on customers and executing business initiatives
- Experience managing a large portfolio of clients and building senior level relationships
- Ability to lead, prioritize and execute on multiple, simultaneous priorities and initiatives
- Strong management background; ability to work both tactically and strategically
- A strong leadership profile coupled with outstanding verbal and written communications.
- Superb business judgment and ability to think through complex business issues.
- Critical assessment capability -ability to maintain a very high bar and drive excellence in work products, services, hiring, etc.
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
Salary Range:
$225,000 - $337,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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