State Street's Mark Snyder, Founder of Trading Unit, to Retire

  • Global head of foreign exchange Tony Bisegna to replace Snyder
  • Custody bank's top ranks have had several changes this year

Mark Snyder, who founded the sales, trading and research division in State Street Corp.’s securities business, plans to retire at the end of the year.

Snyder, who is executive vice president at State Street Global Markets group, leads market-making activities in foreign exchange, multi-asset strategy and investment research services. Tony Bisegna, the global head of foreign exchange, will assume Snyder’s responsibilities, said Brendan Paul, a spokesman for the firm.

State Street, the world’s second-largest custody bank, has experienced turnover in its top ranks this year. The company in June announced that Joseph Antonellis will retire as head of its international business after almost 25 years at the firm. In early April, State Street hired Ronald O’Hanley to run its asset management arm, replacing Scott Powers as head of the unit. John Klinck, head of global strategy and a member of the management committee at State Street, departed the company in April.

Snyder has worked at State Street for more than 30 years, starting in the firm’s capital markets group where he held a number of positions in foreign exchange, treasury, futures and currency risk management, according to State Street’s website. In 1999, he was named global head of foreign exchange trading and sales, and later promoted to executive vice president.

In 2007, the custody bank put him in charge of State Street Global Markets’ research activities, and he created the sales and trading and research unit, the website shows.

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