Three high level executives at State Street Global Markets left the firm earlier this month, Global Investor/ISF understands.

Thomas Bryant, head of agency execution for the Americas, is no longer with the company, industry sources claim.

Christopher Carlin, the firm’s chief operations officer for portfolio solutions, is also thought to have exited. Both were based in Boston.

The third departure is believed to be London-based Paul McGee, a former member of State Street’s transition management committee.

The nature of each departure is unclear. A State Street spokesperson was unable to provide immediate comment. 

Each individual worked for State Street during Ross McLellan and Edward Pennings' time of employment.

Both Pennings, the former head of State Street’s transition management for EMEA and his boss McLellan were indicted in the US earlier this year on five charges of fraud.

Boston prosecutors allege that, between February 2010 and September 2011, the pair, along with unnamed others, conspired to add secret commissions to fixed-income and equity trades performed for at least six clients of the bank's transition management business.

Neither State Street, Bryant, Carlin or McGee are named in the Boston complaint.

Transition management units are designed to help institutional clients, often pension funds, move their investments between and among asset managers or liquidate large portfolios.

McLellan left the firm in 2011 and has repeatedly denied any wrongdoing.

State Street has previously released statements claiming the company has cleaned up its act, refunding the clients involved and dismissing the transition management staff that were responsible.

In 2014, State Street agreed to pay $37.5m to settle allegations relating to the matter with regulators in the UK.