Is Nadine Chakar Leaving State Street, Where Is He Going To Work?

Nadine Chakar is the Global Head of Digital at State Street and a three-decades-long veteran of the industry.
Nadine Chakar is the Global Head of Digital at State Street and a three-decades-long veteran of the industry.( Source : americanbanker )

Nadine Chakar is the Global Head of Digital at State Street and a three-decades-long veteran of the industry.

She is one of the foremost authorities on Economics and the blockchain and has been featured on Forbes 50 over 50 many times.

As a CXO-level executive, Chakar has dedicated her life to business growth, profitability, and innovation.

She has done these three things by skillfully investing in the power of human capital and technology.

In her own words, Chakar has built and managed successful and profitable global businesses and is anchored in three principles: assembling and empowering talented and diverse teams, never losing sight of client needs, and embracing and leveraging change as a competitive advantage.

Over her executive career, she has generated over $4 billion in new revenues, delivered $150 million in expense reductions, and successfully managed over $4.45 billion in M&A activity across the globe.

Here Are Some Facts About Nadine Chakar:

Net Worth:N/A
Profession:Head of State Street Digital
Date of Birth:1964-1965
Place of Birth:America
Alma Mater:Boston University
Years Active:1987 - Present

Is Nadine Chakar Leaving State Street?

No, Nadine Chakaer is not leading State Street; she has only just been appointed to lead State Street's new business division.

Chakar was appointed to this division in June 2021, and the division was designed to help institutional investors, regulators, and State Street itself to transition successfully into a modern digital economy.

This new division, State Street Digital, deals with a range of assets like cryptocurrency and central bank digital currency called CBDCs while collaborating with the company's tech partners to employ distributed ledger technology solutions.

This collaboration led to the beginning of the rollout of smart contracts, which automated the execution of financial contracts without costly intermediaries or delayed processing.

Far from leaving State Street, Chakar has been developing several digital capabilities and other solutions and partnering and investing in the infrastructure that has formed around State Street Digital.

One of State Street's buildings. Nadine Chakar is the head of State Street Digital
One of State Street's buildings. Nadine Chakar is the head of State Street Digital ( Source : blockworks )

The company has a significant role to play in the evolution of the digital market's infrastructure, and Chakar's division is set to help bring the company's expertise and resources to the conversation.

Before her sudden jump into digital supremacy, Chakar was executive vice president and head of State Street global markets.

As the head of State Street Global Market, she managed over 2,000 employees across various businesses like trading, financing, research, and liquidity management.

In 2022, Chakar has a 400-member team that has made notable progress in delivering institutional-grade digital asset management and custody capabilities.

Her progress includes the installation and integration of Copper software with existing bank applications with new operational processes like trade capture and reporting.

At the same time, the GlobalLink technology platform, State Street's proprietary, became an increasingly important component of State Street Digital as it expanded its support for liquidity management and trading to cryptocurrency.

Nadine Chakar being interviewed by CNBC about Bitcoin
Nadine Chakar being interviewed by CNBC about Bitcoin ( Source : cnbc )

Chakar is famous for understanding that in a volatile and rapidly changing digital economy, education for stakeholders of all types is essential for continued prosperity.

As such, assisting the cryptocurrency-curious in better understanding the current state of all things digital is of big importance to her.

As such, Chakar's team has partnered with Oxford Economics to launch an annual survey of qualitative material on global institutional investors.

Recently, the Street State Digital head has also launched the Street digital Influencers Charter.

This charter is set to bring together clients, academics, regulators, internal stakeholders, and other industry influencers to debate and examine the most important issues that businesses face nowadays in terms of digital asset management and digital transformation space.

Chakar's firm is set to hold its first digital influencers summit in November 2022 as part of this initiative.

Nadine Chakar was the eight most powerful woman in Finance in American Banker
Nadine Chakar was the eight most powerful woman in Finance in American Banker ( Source : americanbanker )

In this summit, the firm will hold a series of events that'll look to put into action the many goals outlined in the State Street Digital Influencer's Charter.

Chakar is also a member of State Street's "Leading Women" group.

This group provides mentorship to senior women at the firm. Alongside this role, Chakar is also a member of State Street's Taskforce on Scaling Voluntary Cabon Markets.

This task force is part of a larger private-sector-led initiative seeking to reduce its carbon footprints as per the goals of the Paris accord.

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A Look At Nadine Chakar's Career

As stated above, Nadine Chakar has an extensive history in business which is 30 years deep.

The earliest information known about Chakar is that she studied at Boston University from 1983 to 1987, earning a Bachelor of Arts in Economics.

Her 30-year history starts as a Financial Auditor of Global Operations at State Street Bank in Boston. 

She worked at this location and in this position for two years from 1987 to 1989 but eventually left the job to become the First Vice President of Sales and Marketing in Asset Servicing at BNY Mellon.

She worked at BNY Mellon for a decade, from 1989 to 1999. Her next position was a big change from State Street Bank and BNY Mellon, both in Boston. 

Nadine Chakar being interviewed by Christine Shaw on Her Success Matters
Nadine Chakar being interviewed by Christine Shaw on Her Success Matters ( Source : investmentnews )

Her third position was as the Chair of the Managing Board at ABN AMRO Mellon in Amsterdam, Netherlands.

She worked in the position from 1999 to 2007. This position entailed her reporting to Board Chair, recruiting to and relocating from Boston to the Netherlands to lead, design, and implement ABN AMRO Mellon's strategic global expansion.

To do so, Chakar applied for and obtained a complete European banking license.

ABN AMRO Mellon was a self-funded business that employed 382 associates located in seven countries.

These associates serviced 200 clients in over 30 countries, and the business delivered a 36% increase in revenues, alongside a 60% increase in pre-tax profits and return on equity by the end of its third year of operations. 

The logo for BNY Mellon, where Nadine Chakar worked for decades
The logo for BNY Mellon, where Nadine Chakar worked for decades ( Source : prnewswire )

Following this job, Chakar moved to London, England but started working at BNY Mellon again for the next nearly nine years.

She first worked as the Head of Asset Servicing EMEA, London from 2007 to 2009. 

In this position, Chakar led the EMEA integration efforts of Mellon Financial Corporation, AMR AMRO Mellon, and the Bank of New York, from inception to completion.

She established a new banking entity in Belgium where she consolidated clients, operations, staff, and IT platforms.

Under her management, the going business continued to outperform and was the fastest growing unit in Europe where it delivered 15 to 20% CAGR.

Next, Chakar became the EVP of the Global Head of Financial Institutions and Chair of BNY Mellon SA/NV from 2009 to 2012.

Nadine Chakar appeared on Most Powerful Women in Finance 2021
Nadine Chakar appeared on Most Powerful Women in Finance 2021 ( Source : americanbanker )

This role had her move back to America and entailed her reporting to the CEO and Senior Vice Chair while managing custody, fund accounting, risk, and performance.

Alongside the above duties, it was also her responsibility to outsource Eagle Investment Services for the Bank's global financial institution clients.

During Chakar's time in this role, the company was a $3.3 billion business comprising 10,000 team members and 2000 clients in 45 countries. It was the largest business at the bank.

The business also delivered a 22% CAGR growth and over $350 million in new sales in 2011 alone. 

Chakar solely negotiated and executed $3.3 billion worth of acquisitions in both US and Europe.

Lastly, Chakar's time at BNY Mellon was rounded out by her role as the EVP Global Head of eCommerce, Strategy and Research, and Financial Market Infrastructure.

This role lasted from 2012 to 2015 and was situated in New York City.

Nadine Chakar on FinTech Festival 2019
Nadine Chakar on FinTech Festival 2019 ( Source : twitter )

It saw her once again reporting to a CEO, but this time the CEO of Markets Group, and directing a team of 40 high-caliber professionals whose duty it was to design, articulate and execute a global strategy for the Bank and its many clients.

Chakar left BNY Mellon on July 2015 and joined Manulife Investment Management as their Global Head of Operations and Data in March 2016.

She worked at the job from 2016 to 2019 and then started at State Street, her first place of employment as the Head of Global Markets, and since September 2021 has been the Head of State Street Digital.

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How Much Is Nadine Chakar's Net Worth?

Nadine Chakar's exact net worth is not known to the public but one can assume it is quite large.

Chakar has worked with various large companies and has handled billions of dollars, so she must make more than a comfortable living. 

In her most recent job as the head of State Street Global Markets, she drove and delivered innovative solutions for the company's clients' liquidity, intelligent insights needs, and financing.

She led the company's digital custody strategy by reimagining the future evolution of the global markets industry.  

Nadine Chakar being interviewed by The Scoop
Nadine Chakar being interviewed by The Scoop ( Source : theblock )

Not only that, but she was a member of the company's management committee which is its senior strategy and policy-making team.

Her achievements as the Head of State Street Digital have already been discussed above, and these achievements have been appreciated and celebrated not only by her company but by the world at large.

As stated above, Chakar has constantly been part of Forbes' 50 over 50, and in 2020, American Banker named her as one the most powerful women in Finance.

More specifically, American Banker placed her ninth on the list.

Chakar's way is the way of the future as she is not only concerned with increasing profits but also addressing the world's pressing environmental problems.

Nadine Chakar talking about Cryptocurrency on CNBC
Nadine Chakar talking about Cryptocurrency on CNBC ( Source : youtube )

As such, she is the executive sponsor for State Street's Sustainability Employee Network.

This network focuses on raising awareness of sustainability issues and devises solutions to the environmental problems that the world is currently facing. 

Chakar is a shining light in women striving to and breaking through the glass ceiling.

She is an inspiration and a jumping-in point for many women in business who try to follow her example to reach the dizzying heights she has.

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Some FAQs

Is Nadine Chakar Leaving State Street?

No, she is not. Some would say she is just getting started

Is Nadine Chakar Important?

American Banker named her the ninth most powerful woman in finance

Is Nadine Chakar Married?

Not much is known about her personal life

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