In her role as head of global delivery at State Street, Ann Fogarty oversees the entirety of the firm's operations, including responsibility for its $37.6 trillion AUC/A asset servicing business. Her multidimensional purview includes critical areas such as client service, custody, middle-office, accounting and fund administration, alternative operations, transfer agency, reconciliations, complex operations, derivatives and bank loan activities.
With State Street's status as a global systemically important bank, Fogarty's far-reaching role not only shapes the success of the firm and its clients — which include many of the world's largest asset managers — it plays a crucial role in advancing the stability and integrity of the broader financial services industry.
Stepping into her role during the challenging times of the COVID-19 pandemic, remote work and industrywide turnover, Fogarty piloted her 30,000 member team through unprecedented turbulence, transforming challenges into opportunities for innovation. This included initiating a strategic three-year plan to redesign and optimize State Street's operating model and reimagining every process across business lines and geographical locations.
At the core of her strategy lies the empowerment of State Street's operations through technological innovation and digital transformation, spearheaded by the newly formed SEALS organization — a team of top-notch engineers within the firm. Their objective is to thoroughly assess every operational process within State Street — leveraging advanced technology such as AI and natural language processing — and reimagining and augmenting each one for improved throughput and resiliency.
Fogarty is also in charge of State Street's AlphaSM, a comprehensive front-to-back investment platform, post-client support. In practice, this means mapping, creating and transferring client operating models and supporting clients in real time.
A proud Irish native who emigrated to the United States in 2015, Fogarty's contributions extend beyond her corporate achievements. She actively engages in various committees of the Irish Funds Industry Association and is a founding member of the Irish chapter of the 30% Club, dedicated to enhancing gender diversity in senior business roles.
Fogarty recently became a board member of G{Code}, a community-centered organization that provides technical training and a co-living, learning and working space for women and nonbinary people of color in the greater Boston area. Internally, she holds a leadership and sponsorship role for State Street's "10 Actions Against Racism and Inequality" and is a co-sponsor of its disability awareness alliance global advisory group.
