State Street appoints Hostin as global head of agency lending
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State Street appoints Hostin as global head of agency lending 15 May 2023US Reporter: Carmella Haswell
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State Street has appointed Patricia Hostin as global head of its Agency Securities Lending business.
Based at the firm鈥檚 Boston headquarters, Hostin will be responsible for overseeing the entire business globally, while working collaboratively across key business and support functions to ensure State Street delivers its securities lending product.
Hostin will report directly to Gino Timperio, global head of financing solutions for State Street Global Markets.
Bringing more than 20 years of experience to the firm, Hostin was most recently managing director for BlackRock鈥檚 Financial Resource Management business.
In her former role, Hostin executed BlackRock鈥檚 global strategy for optimising capital and balance sheet consumption, with broker-dealer counterparties across repo financing, securities lending, prime brokerage financing, cash management and trading.
Hostin was also a member of BlackRock鈥檚 Balance Sheet Steering Committee, BlackRock鈥檚 New York Leadership Team and is a Risk Management Association (RMA) Committee representative.
The announcement marks another key appointment for State Street, following on from the hire of Taryn Siglain, who was selected as the firm鈥檚 new global head of Enhanced Custody 鈥� State Street鈥檚 principal securities lending programme.
State Street says that Agency Securities Lending has been a core business unit within the firm for more than 50 years, with nearly US$5 trillion in lendable assets and an 鈥榚xtensive鈥� global operating model.
Commenting on the senior appointment, Timperio says: 鈥淲e are very excited to welcome Patricia to State Street, as she鈥檚 a seasoned leader who joins us at an optimal time to provide important leadership to our agency securities team.
鈥淗er experience in the industry, coupled with her strong leadership background, will prove invaluable as we look to further strengthen our lending business to meet the multifaceted needs of our clients.鈥�
Hostin adds: 鈥淚 am pleased to join State Street and I am looking forward to working with a talented team of agency lending professionals to deliver for our clients.鈥�
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