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State Street is said to lay off 15% of senior managers

Jan 10, 2019 - American Banker

State Street new chief executive officer is executing on a plan to whittle the management ranks.

The firm is cutting 15% of its senior management beginning Wednesday as it continues to tackle costs, according to people with knowledge of the matter, who asked not to be identified because the information is private. The bank has hundreds of senior managers, and those affected include executive vice presidents and senior vice presidents.

Ronald O'Hanley, who took over this month as CEO ...