Fernandes New Digital Assets Head at State Street

State Street has raided rival custodian BNY Mellon for the new head of its digital assets business, with Vanessa Fernandes being named to the role.

Fernandes will be based in New Jersey and report to Donna Milrod, chief product officer at State Street, who has been managing the digital assets business since the departure of former heads Nadine Chakar at the start of 2023.

At BNY Fernandes was global head of digital experience for digital channels, a role she held for two years after joining from 14 years in various roles in the Itaú banking group, including CTO and digital assets management roles.

“We continue to focus on developing, leading, and executing on our digital strategy, which, over time, will impact nearly every facet of our company and transform our industry,” says Milrod. “To help us achieve our aspirations, I am pleased to welcome Vanessa to the team and look forward to seeing her build on the foundation we have established with her expertise with digital products, technology and operations.”