Ron Logue has taken the helm at State Street following the retirement of David Spina, chairman and chief executive last week.

Spina had a bypass operation last year, following a mild heart attack. In an interview with Financial News last month, he made it clear that he had been considering his future at the company. "I have discussed succession with the board in the past year, and there is more intensity to that right now," he said. Spina was due to remain as chief executive until 2007. He said the board would consider external as well as internal candidates. However, Logue, formerly chief operating officer, was widely seen as chief executive-in-waiting.