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Former State Street Exec to Lead Equity Trust

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Equity Trust, which custodies about $25 billion in alternative assets for retirement accounts, says it has a new CEO: George Sullivan, previously the global head of State Street’s Alternative Investment Solutions group.

“George is a proven leader with a track record of formulating and executing strategy according to Jeff Desich, executive vice chairman of Equity Trust. “His experience will enable him to strategically lead the company’s product innovation and growth.”

Sullivan has more than 30 years of financial services experience. In his role at State Street, he oversaw strategic direction, global sales, client relationship management, product structuring and operations of hedge, private equity and real estate fund administration worldwide.

For its part, Equity Trust has been in the business for 45 years. Based near Cleveland, it has over 400 employees who work with advisors, investors and others by providing back office and other support tied to asset classes like real estate, tax liens, private equity and precious metals.

“It is an enormous privilege to be entrusted by the Desich family to lead Equity Trust Company during an important period of transformation and growth,” Sullivan said in a statement. “I am committed to growing the company’s market share through the delivery of new services and solutions while providing a superior experience for our clients and employees.”

Earlier, Matthew Wilson had served as Equity Trust’s CEO from October 2015 to April 2018. Wilson, now head of institutional services for E*Trade, came to Equity Trust after nearly three years as the CEO and President of Scottrade Brokerage.