Lamanna will be in charge of business development, stewarding client engagement, developing talent, and building the company’s brand and market network, in addition to maintaining strong and proactive regulatory relationships, State Street said in a statement on Wednesday. He will succeed .

Prior to the appointment, he was the head of Alpha Business Development for the EMEA region, and legal entity head and board member for State Street Global Exchange. 

“I’m happy and honoured to lead State Street business in Luxembourg, the place where many of our clients have decided to run large business operations and manufacture investment solutions to be distributed across many different jurisdictions in Europe and in other regions,” Lamanna said. “It is the expertise built in the market throughout many decades and the strong trademark of Luxembourg regulated and unregulated products that our clients continue to value and benefit from. I look forward to further strengthening State Street’s leadership position as a provider of investors services in Luxembourg thanks to its products span, quality of service and expertise.”

The corporation also announced the appointment of Dagmar Kamber Borens as the country head of Switzerland effective as of 1 August and Andreas Niklaus as the country head of Germany.

“Our country heads are critical to our vision and path forward to being an essential partner for our clients. Andreas, Riccardo and Dagmar all bring significant, on-the-ground experience to their roles and are highly skilled to lead the creation and execution of an enterprise-wide growth strategy for their respective markets,” said Jörg Ambrosius, executive vice president and CEO, Europe, Middle East and Africa for State Street.

State Street is one of the world's leading providers of financial services to institutional investors with $42.6trn in assets under custody and/or administration and around 39,000 staff worldwide.