State Street on Wednesday appointed a new chief financial officer.

The Boston custody bank hired Eric Aboaf for the role. He will join the company in December from Citizens Financial Group in Providence, R.I., and will officially take over as CFO in March.

Aboaf will also hold the title of executive vice president. He will succeed Mike Bell, who announced his retirement earlier this year, and will report directly to Jay Hooley, chairman and chief executive.

State Street has $27.8 trillion in assets under custody and administration, according to the company.

Aboaf has served as CFO of the $145 billion-asset Citizens since April 2015. He previously worked at Citigroup for 12 years in a number of senior roles, including global treasurer.

Separately, Citizens named retired executive John Fawcett as interim CFO. Fawcett will take over when Aboaf leaves in December.

Fawcett was CFO at Citizens for seven years until he retired in April 2015.

In a press release, Citizens CEO Bruce Van Saun praised Aboaf for his service, and noted that he has an opportunity to "substantially increase his compensation" and gain new experiences at a large, global company.

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