State Street has appointed Nicholas Bonn as new executive vice president to head its securities finance business. Mr Bonn will report to David Puth, executive vice president and head of global markets business.

Mr Bonn held a many leadership positions throughout his career at State Street, including responsibility for establishing State Street’s broker/dealer subsidiaries in the US, Canada, Japan and the UK.

He managed State Street’s equity trading and transition management businesses for 17 years. He recently served as global head of sales and client development for State Street global markets.

Mr Puth said: “Nick has a wide range of experience across State Street, having worked in senior capacities across many of our high-growth businesses during his nearly two decades with the company. Nick, together with a strong and deeply tenured leadership team, is well placed to deliver our clients the securities finance solutions they require in today’s dynamic market environment.”

In addition, State Street has also appointed Doug Stern and Yvonne Wong to its enhanced custody business, the servicing solution for long/short strategies.

Mr Stern joins as senior managing director and head of global business development and client service for enhanced custody and Mr Wong joins as managing director and head of business development for Asia Pacific.