European head of State Street steps down
State Street Bank International GmbH CEO to Step Down Next Year
Andreas Przewloka, the CEO of State Street Bank International GmbH, the continental European investment services business of State Street, has announced his intention to step down next year. Przewloka, who joined the bank in the second half of 2022, has led the bank through significant growth and regulatory compliance, leaving a lasting impact on the institution.
Before joining State Street, Przewloka worked at consulting firm Accenture and rose to the position of COO and deputy CEO of UBS Europe. His extensive experience in the industry has been instrumental in his success at State Street.
Przewloka has been at the helm of State Street Bank International GmbH for nearly a year, during which time he has worked to strengthen relationships with key customers and keep cost increases to a minimum. Under his leadership, the bank's operating profit has increased by 45%.
Europe accounts for approximately 15% to 20% of State Street's business, with this share continuing to increase. The growth of State Street's European business has been driven by acquisitions, such as the custody business of Mizuho Financial Group, the global custody services of Deutsche Bank, and the securities processing services of Intesa San Paolo.
State Street manages over €3.000 billion in Europe, with nearly €400 billion in Germany. In Germany, State Street is number two, behind BNP, which has further extended its lead through the acquisition of relevant units from HSBC.
Przewloka's calm and composed manner may have been beneficial in his dealings with supervisory authorities. He has also been instrumental in setting up important regulatory issues, with regulatory compliance being a crucial focus during his tenure.
Przewloka has initiated a process to find a successor for his position, but the search results do not provide information about his replacement. It is expected that Przewloka's departure will occur in the first or second quarter of 2026.
Prior to his career in banking, Przewloka started as a physicist before earning a doctorate from the European Organization for Nuclear Research (CERN) and a diploma in economics. His unique background has undoubtedly contributed to his success at State Street.
As Przewloka steps down, he leaves behind a legacy of growth, regulatory compliance, and customer focus. The bank, with branches in eight other continental European countries and employing over 8,000 people, is well-positioned for continued success in the coming years.
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