Adam Sporn, who shifted to State Street in late March, is responsible for developing new business opportunities, cultivating existing relationships and serving as a product expert in industry affairs.
He reports into Jim Bryant, senior managing director for State Street’s enhanced custody business development team.
Previously, Sporn was managing director and head of business development for Borrow Plus, BNY Mellon’s principal securities finance programme.
The role involved managing the bank’s client-facing activities, including sales and relationship management, with a focus on hedge funds and liquid alternatives.
Sporn’s CV also includes 11 years in Morgan Stanley’s securities lending group, where he was responsible for building out incremental supply for prime brokerage clients through exclusives and enhancement swaps.