State Street appoints chief information officer

State Street has appointed Brian Franz as chief information officer (CIO), replacing the outgoing Antoine Shagoury.

Reporting to chief operating officer Lou Maiuri, Franz will also become a member of the firm’s management committee, its most senior strategy and policy making group.

Franz joins from alcoholic beverages company Diageo where he most recently served as chief productivity officer leading information technology, enterprise operations and business service functions. Prior to that he was CIO at PepsiCo International.

According to State Street, Franz has extensive experience in the deployment of artificial intelligence, machine learning and robotics.

Maiuri said: “He brings to State Street a unique combination of experience, knowledge and deep technology and operations prowess.”

He added: “The CIO of the future needs to be as much a business leader as a technology visionary.”