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State Street adds two to institutional investor services team

State Street adds two to institutional investor services team


State Street Corporation has hired Hemant Bhide as the head of the US asset owner business and Bruce Shain as a senior vice present and client service department manager.

“We are very pleased to welcome both Hemant and Bruce to our team,” says Stephen Nazzaro, executive vice president at State Street and head of Asset Owners for the Americas. “Their strategic and consultative experience across multiple markets including global investment management, pension funds, sovereign wealth funds and endowments & foundations will bring tremendous value to our clients.”
 
Bhide will be responsible for the US asset owners business and will report into Nazzaro. He joins from PricewaterhouseCoopers where he was most recently a partner in the financial services advisory practice. Bhide’s broad range of experience spans the front, middle and back-office including helping firms strengthen their service models to help protect against operational, technology and regulatory risks.
 
Shain, who will report into Bhide, will assume oversight of the corporate pension, non-profit and endowment & foundation asset owner businesses. Previously, he spent nearly 20 years with Bank of New York Mellon, where he was most recently managing director and segment head of US corporate, government and non-profit businesses. Prior to that role he held relationship management and client service positions servicing institutional clients.

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