From August 13th to 17th, Mr. James S. Phalen, executive vice president of State Street Corp. as well as head of international operations for investment servicing and investment research and trading, visited State Street Technology Zhejiang, a subsidiary of State Street, and Insigma HengTian Co., Ltd, both located in Hangzhou city, Zhejiang province, China.
In his meeting with senior management of SSTZ and HengTian, Mr. Phalen emphasized that SSTZ should play a more important role and assume more responsibilities in State Street’s global business development strategy. Also, he expressed that a closer cooperation between SSTZ and HengTian is strategically significant for State Street to strengthen its positions in the Asia Pacific region.
On August 15th, Mr. Phalen visited Zijingang Campus of Zhejiang University, and hosted a town hall meeting attended by employees of SSTZ and HengTian. Mr. James S. Phalen started meeting by going over the development of the Technology Center with the employees of SSTZ. And he then highlighted the current financial market development trends and their impacts on State Street Corp. Mr. Phalen also highly praised the achievements and the contributions to the corporate that SSTZ has made in its relative short history.
James S. Phalen is a member of State Street’s Operating Group, the company’s most senior strategy and policy-making team. Prior to this position, Mr. Phalen was head of State Street’s North American investment servicing group. He was also formerly chairman and chief executive officer of CitiStreet, one of the largest global benefits delivery firms in the country.
