State Street CFO Eric Aboaf departs for new role beyond banking
- Eric Aboaf, vice chairman and CFO of State Street Corporation, will depart for a new opportunity outside of banking in February 2025.
- He will work closely with the team during the transition and the company has begun a succession plan to find his replacement.
- Aboaf's leadership has been crucial in developing the company's growth strategy, and his departure marks a significant change for State Street.
In the United States, State Street Corporation announced that Eric Aboaf, the vice chairman and chief financial officer, will be leaving the company for a new opportunity outside of banking. His departure is expected to take place in February 2025, and he will assist in the transition process until then. Aboaf has been instrumental in developing the company's strategic growth plan, emphasizing expense discipline and productivity gains. State Street has initiated a succession plan, which includes both internal and external searches for Aboaf's replacement. The announcement coincided with the release of State Street's third quarter 2024 financial results, highlighting the company's significant assets under custody and management. The firm operates globally, serving institutional investors and maintaining a strong presence in over 100 markets worldwide. Aboaf expressed gratitude for his time at State Street and the opportunity to work with its leadership team, indicating a positive legacy as he prepares to move on.