Global Head of Private Credit, SVP

Location: Boston preferable; other State Street locations to be considered

Across the globe, institutional investors rely on State Street to help them manage risk, respond to challenges through solutions, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged professionals are essential to our success.

Our commitment to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you.   Join us.

Position Overview

Private Credit has been the fastest growing sub-segment of the Private Markets industry over the past several years.  This is expected to continue as more firms see direct/private lending as a way to create portfolio yields that are uncorrelated to public markets; as traditional lending banks continue to face capital constraints and overheads; and as insurance companies seek structured loans and yields to feed their annuity businesses.

Private Credit funds also lend themselves more easily to semi-liquid fund structures such BDC’s, Interval Funds, ELTIF’s, etc which will result in broader distribution of these products into wealth channels, and thus more growth.

This Senior Vice President position will report directly to the Executive Vice President, Global Head of Alternatives in State Street’s institutional services division.  The position will also collaborate closely with operating teams providing fund administration, loan services, custody, transfer agency, trustee services and analytics to credit managers.  Additionally the position will collaborate with State Street’s global markets credit lending and finance team to combine on client value chain strategies across asset servicing and credit finance.

Primary Responsibilities

The Global Head of Private Credit will have responsibility for a go-to-market strategy for how we develop asset servicing capabilities superior to global competitors in all major regions, and will be responsible for leading the firm’s ability to capture the above-mentioned growth levels.

Additionally the SVP will manage the Private Credit global P&L and will work closely with the EVP Global Head of Alternatives to identify and fund specific strategic programs, priorities and targets.

Product development, management and client solutions will be part of the direct remit of the Global Head of Private Credit, and this SVP will collaborate closely with commercial teams and operating teams to drive superior outcomes for State Street and our global private credit clients, ensuring State Street’s capabilities continue to be ahead of the curve on addressing servicing capabilities for emerging trends in the private credit space – including broadening distribution of products into semi-liquid vehicles and into wealth/retail investor bases, providing comprehensive servicing solutions for CLO’s, and supporting adjacencies for private credit funds with asset-backed finance and insurance products.

Job Requirements and Minimum Qualifications

• 20+ years experience desirable

• Depth of experience in Private Credit required; either from asset servicing, or directly from within Private Credit and Fund employers

• Demonstrable experience managing and growing a commercial revenue line

• Strong Private Credit network, preferably globally

• Outstanding Leadership skills

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location