Episode 242: State Street's COO on acquisition strategy

This week, Lou Maiuri, COO at State Street, joins Tony on the podcast to discuss State Street’s acquisition of Brown Brothers Harriman’s Investor Services business and the firm’s strategy beyond that. They also cover how firms can build interoperability within the organization and some of the challenges with the new landscape of working remotely. 6:00 – Lou joins the podcast and gives a breakdown of his responsibilities at State Street. 9:00 – Then, he details how State Street’s acquisition of Brown Brothers Harriman’s Investor Services business is really a consolidation deal with many plusses. 11:30 – BBH’s Investor Services business is “the god of small things.” 12:30 – Lou says the deal is strategic and is accretive to State Street’s strategy. 14:00 – They discuss how retaining talent and executing the integration is the next key step. 18:30 – Customers want technology that speaks the same language. 23:30 – It’s not a good model if customers don’t have choices. 32:30 – They close out talking about how remote work worked and the areas where it is more challenging.