State Street Ireland
State Street is an American worldwide financial services holding company, with global operations and offices in almost 30 countries. State Street is organised into divisions, all of which operate globally: Services, acting as a custodian bank; Advisors, offering investment management services; and Markets, conducting research and trading for institutional investors. The Irish portion of the State Street network has been growing in recent years, acquiring Bank of Ireland Asset Management (BIAM) and a number of other entities that have market share across the UK and Ireland. Darren McMahon, vice president and head of legal, manages a legal team that oversee the Irish legal challenges for State Street. They coordinate all legal matters across mutual funds and collective investment, covering the associated corporate law, M&A and regulatory needs. The Irish legal team are tasked with a diverse array of matters that come out of the financial services company, especially when dealing with both domestic and international regulators. State Street has been actively acquisitive in the years following the banking crisis and has sought to increase its portfolio of products; to support this the legal team has been essential to the reviewing and drafting of fund documentation, prospectuses and contracts. Symbolising the importance of the legal team’s involvement in the business operations of the company, McMahon sits as part of the State Street Ireland management committee. Despite some challenging times, State Street Ireland posted a 17% growth in revenues last year.