Agency Lending - Corporate Action and ADR Trading Specialist, Vice President

Execution, Financing and Clearing:
Agency Lending - Trading Corporate Action and ADR Trading Specialist, Vice President Boston, Massachusetts

State Street's award-winning Agency Lending team is a global leader in Financing and a flagship product within our Execution, Financing and Clearing, Markets business. We provide innovative financing solutions in a $3.97 trillion industry that supports liquidity across global financial markets. We generate over $1.2 billion in annualized revenue for more than 225 active clients, including some of the world's largest sovereign wealth funds, asset managers, and pension funds, who entrust us with over $6 trillion in lendable inventory.

Our trading desks operate across six global locations, engaging with over 150 banks, brokers, and investment managers in 37 lending markets. Our traders drive client revenue by lending securities in exchange for fees, using market data, corporate events, security-level fundamentals, and cross-market signals to price and manage trades throughout their lifecycle.

We are seeking an experienced Vice President to serve as a Corporate Action and American Depositary Receipt (ADR) Trading Specialist within Agency Lending. The successful candidate will combine strong securities lending judgment with deep knowledge of corporate action event mechanics and depositary receipt markets. This person will identify event-driven revenue opportunities, translate complex elections and market conventions into clear trading strategies, and manage execution risk across clients, borrowers, custodians, depositaries, operations teams, and local markets.

Demonstrates deep knowledge of mandatory and voluntary corporate actions, including mergers, tender and exchange offers, rights offerings, spin-offs, conversions, distributions, redemptions, and proxy-related events Understands ADR and global depositary receipt structures, including issuance and cancellation mechanics, local-to-ADR conversion economics, foreign exchange impacts, market cutoffs, settlement considerations, fees, taxes, and liquidity constraints Applies disciplined commercial judgment to event-driven pricing, borrower demand, expected value, and risk-reward decisions Communicates complex event terms clearly to clients, counter parties, traders, operations teams, and senior stakeholders Demonstrates leadership, sound escalation judgment, attention to detail, and a continuous-improvement mindset

• Lead the identification, analysis, pricing, and execution of corporate action and ADR-related securities lending opportunities across relevant global markets
• Interpret transaction documents, election terms, key dates, proration mechanics, settlement conditions, market restrictions, and economic outcomes to develop clear trading strategies
• Manage event-driven positions throughout the full lifecycle, including pre-event positioning, recalls, elections, settlement, post-event reconciliation, and issue resolution
• Evaluate ADR-versus-local market economics by incorporating conversion ratios, depositary fees, foreign exchange, taxes, settlement timing, liquidity, borrowing costs, and market-specific constraints
• Partner with regional trading desks to coordinate inventory, borrower demand, pricing, and execution where corporate actions or depositary receipt flows cross markets and time zones
• Meet revenue targets and optimize client returns while operating within approved counter party, market, operational, liquidity, and position risk limits
• Provide timely market intelligence and actionable event summaries to clients, trading leadership, relationship management teams, and other stakeholders
• Maintain and enhance relationships with borrowers, depositary…