Come July, Boston Financial Data Services will have a new top executive. Chief operating officer Terry Metzger will become president and CEO of the Quincy, Massachusetts-based back-office provider, succeeding Stephen Hooley, who will take on the roles of president and chief operating officer at Boston Financial parent DST Systems. Boston Financial is co-owned by DST and State Street. Hooley will succeed Thomas McCullough, who will retire at yearend.
Hooley, a State Street alum who joined Boston Financial as president and CEO in 2004, will also assume McCullough's role as Boston Financial chairman.
Company Press Release
QUINCY, Mass., Feb. 26 /PRNewswire/ -- Boston Financial Data Services, Inc. (Boston Financial), a 50 percent owned joint venture of DST Systems, Inc. (DST) and State Street Corporation (State Street), announced today that Stephen C. Hooley, chief executive officer and president, will join DST as president and chief operating officer on July 1, 2009, reporting to Thomas A. McDonnell, chief executive officer of DST. He succeeds Thomas C. McCullough, who has announced his plans to retire effective December 31, 2009. Terry L. Metzger, currently chief operating officer of Boston Financial, will succeed Mr. Hooley.
For more than 21 years, Mr. McCullough has played an integral role in both leading DST and in the success of Boston Financial. He has built strong management teams that will continue to provide the high level of service that distinguishes DST and Boston Financial in the marketplace. Mr. McCullough will continue to serve on the boards of DST and Boston Financial, where he will also serve as a director and chairman of the Boston Financial Audit Committee.
Mr. Hooley joined Boston Financial as president and chief executive officer in January 2004 and has held several executive roles with International Financial Data Services, LP (IFDS) since 2005. IFDS is a 50 percent owned joint venture of DST and State Street located in Canada, the United Kingdom, Luxembourg and Ireland. Mr. Hooley will continue his involvement with IFDS and assume Mr. McCullough's role as chairman of Boston Financial. Mr. Hooley has managed both domestic and international businesses within the financial services industry for more than 20 years, with an emphasis on strategic projects and business development. Prior to joining Boston Financial, Mr. Hooley held a number of senior executive roles at State Street. During his tenure at State Street, Mr. Hooley held roles in Institutional Investor Servicing and information technology, and managed the integration of the Global Securities Services business acquired from Deutsche Bank in 2002.
As chief operating officer, Mr. Metzger has led Boston Financial through a period of unprecedented growth in its client base over the past five years. Before joining Boston Financial, Mr. Metzger held leadership positions at DST, where his responsibilities included managing mutual fund customer relationships. Mr. Metzger's extensive knowledge of large-scale client operations and his industry expertise will continue to enhance the product offerings and value proposition for Boston Financial's customers.
"Understanding not only the business needs of clients but also delivering a breadth and depth of technology platforms and services is essential to servicing the needs of the financial services marketplace," said Mr. Metzger. "I am excited to continue in a leadership role for the Boston Financial organization. Our focused, strategic commitment to this industry offers clients a wealth of expertise and service delivery systems. I look forward to building upon Boston Financial's industry leading position."
About Boston Financial:
Boston Financial Data Services is one of the industry's premier third-party transfer agents and has been servicing the mutual fund industry since 1973. Boston Financial is a joint venture between DST Systems, Inc. of Kansas City, Mo., and State Street Corporation of Boston, Mass. This joint venture has enabled Boston Financial's clients to utilize DST's industry-leading software and technology while benefiting from the institutional support and global reach of State Street. For more information, visit Boston Financial's web site at www.bostonfinancial.com.
About DST Systems:
DST Systems, Inc. (NYSE: DST) provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST's world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Mo., and is a publicly traded company on the New York Stock Exchange. For more information, visit DST's web site at www.dstsystems.com.
About State Street:
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $12 trillion in assets under custody and $1.4 trillion in assets under management at December 31, 2008, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street's web site at www.statestreet.com.