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State Street strengthens insurance business with senior EMEA appointment

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State Street Corporation has appointed Christian Bongiovanni as the regional segment head for insurance in Europe, the Middle East and Africa (EMEA). Based in Milan, Bongiovanni is responsible for advancing the end-to-end service proposition for the firm’s insurance clients. He reports to Akhil Jain, global head of insurance and Jörg Ambrosius, head of EMEA. 

Bongiovanni’s appointment is the latest in a series of enhancements State Street has made this year in support of its insurance clients spanning people, technology and more integrated solutions. Last month, State Street announced a business partnership with SimCorp to offer a fully integrated investment outsourcing solution for insurance clients in EMEA. The partnership, which will leverage State Street’s AlphaSM platform, provides insurance companies in the EMEA region with a premier servicing solution. It actively addresses operational efficiency and helps them deliver improved accuracy and timely, high-quality data for their front-to-back operations.

“As insurance companies continue to expand operations to support their growth agenda, they require a consolidated front-to-back operating model and a global provider with the required expertise that can cater to their needs,” says Ambrosius. “With our strong technology solutions and Christian’s broad international experience having worked for large insurers and their asset management units, our clients can focus on strengthening the capabilities that set their business apart to support differentiation and growth.”

“I am excited to join the world-class team State Street has built that continues to be an essential partner to insurers,” says Bongiovanni.

Bongiovanni joined State Street from The Boston Consulting Group, where he led advanced analytics for insurance across Europe. Prior to this, he spent 17 years at McKinsey & Co, where he was a partner of the insurance practice and co-leader of advanced analytics in insurance. He also held management oversight in Europe and the US.

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