Donovan, will help expand State Street’s real estate investment servicing business across North America and will report to Bhagesh Malde, senior managing director in State Street’s alternative investment solutions group, said the firm.
"Alternative asset classes like real estate have increased rapidly in popularity in recent years, as has the complexity of the funds," Malde added.
"As real estate fund managers seek out skilled and experienced administrators to service their funds, we are confident in the extensive real estate experience that Tim brings and in his ability to help expand this core area of our alternatives business."
Before accepting his current role, Donovan was working as chief executive officer for Beacon Residential Management managing the development of the asset management of the company’s real estate portfolio as well as served as chief financial officer leading the company’s middle and back office operations.
State Street offers a comprehensive spectrum of fund accounting, fund administration, corporate administration, and risk analytics and credit services to institutional investors, hedge fund, and private equity and real estate fund managers.
State Street Corporation, owned $23.2 trillion assets under custody and administration and $2 trillion in assets under management as on 31 March 2012 and operates in 29 nations across the globe.
