(Bloomberg) -- State Street Corp.’s Chief Financial Officer Eric Aboaf is leaving the financial services and banking giant to take on the same role at S&P Global Inc.
Aboaf will join S&P Global in February, where he’ll report to incoming Chief Executive Officer Martina Cheung, according to a statement. Cheung starts in her new role on Nov. 1.
“With a well-established record of driving sustainable growth, as well as a deep understanding of the markets and regulatory landscape in which we operate, he will help ensure we continue to deliver strong value for our shareholders in alignment with our strategy,” Cheung said in a statement.
State Street has kicked off an internal and external search process for Aboaf’s successor, it said in a separate statement. Aboaf — who was State Street’s CFO for nearly eight years — will stay on for several months to help with the transition. Prior to State Street, Aboaf was CFO at Citizens Financial Group Inc. and held senior roles at Citigroup Inc.
“State Street is well-positioned with its strong financial foundation and strategy for success, and I look forward to working with the team into 2025 during this transition,” Aboaf said.
Shares in State Street, which also reported third-quarter results on Tuesday, were up 1.19% at 9:07 a.m. in early New York trading. The firm generated $3.26 billion of revenue, topping analyst estimates. Net interest income of $723 million also beat analyst forecasts, as did its adjusted earnings per share of $2.26.
(Updates with details of Aboaf’s new role from headline onwards.)
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