UK – State Street has appointed Jerry Neudegg as head of its pensions accounting team in London, a new role.

Neudegg will head up a team of 50 and report to Peter Adams, head of State Street’s UK pensions servicing team.

A spokeswoman for the company said the creation of the role was a result of State Street's increased focus on this market segment and continuing pipeline of new business.

Sri Pools, overall head of Institutional Fund Services at State Street, said that Neudegg’s accountancy expertise would align with the company’s accountants who are more aware of the internal system, thereby creating “a more proactive service model for clients and regulations and needs change in the industry”.

Prior to joining State Street, Neudegg worked as vice president and head of accounting services for J P Morgan Chase. He was also head of fund accounting for Schroder Investment Management where he managed accounting and reporting resources for institutional clients in North America, Europe and the UK.

Worldwide, the company has 8.8 trillion dollars (7.65 trillion euros) in assets under custody, and 965 billion dollars (839 billion euros) in assets under management.