STATE Street Corp on Monday announced it has brought on board Mostapha Tahiri as head of Asia-Pacific and Joanne Chen as head of China.

The New York-listed firm, which provides financial services to institutional investors, said the two senior appointments are part of its Asia-Pacific expansion plan.

Mr Tahiri joined State Street's Singapore office, and will be responsible for the strategic direction, management and growth of the company's overall business in the Asia-Pacific.

He will also serve on State Street's management committee, its most senior strategy and policy-making group.

He reports to both Andrew Erickson, chief productivity officer and chief executive officer (CEO) for the international business, and Francisco Aristeguieta, CEO of State Street Institutional Services.

Mr Tahiri was from French banking group BNP Paribas, where he took on leadership positions over the past two decades. Most recently, he served as Asia-Pacific CEO of BNP Paribas Securities Services and was a member of its executive committee.

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At State Street, he succeeds Ian Martin, who was named global head of the asset-owner segment.

Mr Tahiri noted that the Asia-Pacific has been a growth engine for State Street since the company established its presence in the region more than 40 years ago.

Meanwhile, Ms Chen likewise joined State Street this month, and reports to Mr Tahiri.

Based in Beijing, she will be responsible for all business activities in China including driving strategy, developing talent, pursuing growth opportunities as well as managing relationships with Chinese clients, partners, officials and regulators.

Ms Chen's last role was at BNP Paribas where she served as head of China financial institutions coverage.

Before that, she worked at Deutsche Bank as head of China strategy management and head of private wealth and commercial clients.

China offers a long-term growth opportunity for State Street, with its regulatory liberalisation, relaxation in restrictions for global asset managers and the growth of onshore domestic assets, said Mr Tahiri.

Likewise, Mr Aristeguieta said that China "stands out as a very important opportunity" for the company's clients as State Street positions itself for growth in Asia.

State Street provides investment servicing, investment research and trading, data and analytics and investment management to asset owners, asset managers, official institutions, insurance companies and alternative investors in the Asia-Pacific.

Its shares closed at US$70.11, up US$0.86 or 1.2 per cent, on Friday in the US.