BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), the world's leading provider
of financial services to institutional investors, today announced that
its board of directors has appointed Jay Hooley, vice chairman and
head of State Street's global investment servicing, trading and
research businesses, to president and chief operating officer. He will
continue to report directly to Ronald E. Logue, chairman and CEO of
State Street.
Hooley, age 51, is responsible for all of State Street's asset
servicing activities worldwide including investment servicing,
investment research and trading and securities finance. Under his
leadership, State Street has consistently achieved high growth,
expanded its global presence and enhanced its capabilities and
services for its customers. Today the company is a leading provider of
investment servicing to institutional investors including alternative
investment, mutual and offshore fund servicing, multi-asset class
trading, securities finance and transition management.
"Jay is a proven leader with a strong knowledge of our industry
and the trends shaping its future," said Logue. "He has made a
significant impact to our past success and I have no doubt as
president of State Street he will have an equally profound impact on
our future. His vision and in-depth understanding of our businesses
will ensure that anticipating and meeting our customers' needs always
remain at the forefront of what we do."
Since joining State Street in 1986, Hooley has held a number of
leadership positions with the company. After leading the company's US
Mutual Fund sales organization, Hooley joined State Street's
shareholder servicing joint venture with Kansas City-based DST
systems. From 1988 to 1990, he served as president and chief executive
officer of National Financial Data Services and went on to become
president and chief executive officer of Boston Financial Data
Services from 1990 to 2000. During this time, he oversaw the dramatic
growth of the core domestic services business and was responsible for
the creation of International Financial Data Services extending the
joint venture's shareholder servicing offering to Europe and Canada.
He returned to State Street in 2000 to manage its global investment
servicing business and assumed his current responsibilities in 2004.
Hooley, a member of State Street's Operating Group, the company's most
senior strategy and policy-making team, was named vice chairman of
State Street in 2006.
"This is a time of tremendous opportunity within our industry
although one that is coupled with heightened complexity and challenges
for our customers," said Hooley. "As president and COO I am committed
to continuing to leverage the considerable advantages we have
established in terms of global reach, scale and investment in
technology and innovation to benefit all of our constituencies."
Hooley is an active member of a number of community organizations.
He is a director on the board of the Boys & Girls Clubs of Boston, a
trustee of The Prince of Wales International Business Leaders Forum
(IBLF) and a member of The Boston Club'sCorporate Advisory Board,
which is focused on identifying and recommending qualified women
candidates for openings on corporate boards.
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $15 trillion in assets under custody and $2 trillion
in assets under management at March 31, 2008, State Street operates in
26 countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.
Forward-Looking Statements
This news announcement contains forward-looking statements as
defined by United States securities laws, including statements about
State Street's goals, opportunities and business environment. These
statements are not guarantees of future performance, are inherently
uncertain, are based on current assumptions that are difficult to
predict and involve a number of risks and uncertainties. Therefore,
actual outcomes and results may differ materially from what is
expressed in those statements, and those statements should not be
relied upon as representing State Street's expectations or beliefs as
of any date subsequent to the date of this release. Important factors
that may affect future results and outcomes include our ability to
integrate and convert acquisitions into our business; interest rates,
volatility, liquidity and other factors relevant to securities,
currency and other markets; our ability to attract non-interest
bearing deposits and other low-cost funds; the performance and demand
for the products and services we offer; the competitive environment in
which we operate; our ability to continue to grow revenue, control
expenses and attract the capital necessary to achieve our business
goals and comply with regulatory requirements; and the other
financial, market, competitive, regulatory and business factors set
forth in State Street's 2007 Annual Report on Form 10-K and its
subsequent SEC filings. State Street encourages investors to read its
10-K, particularly the section on Risk Factors, and its subsequent SEC
filings for additional information with respect to any forward-looking
statements and prior to making any investment decision. The
forward-looking statements contained in this press release speak only
as of the date hereof, April 30, 2008, and State Street will not
undertake efforts to revise those forward-looking statements to
reflect events after this date.
Source: State Street Corporation
Contact: State Street Corporation
Investors and Analysts:
Kelley MacDonald, +1 617-664-2888
or
Media:
Hannah Grove, +1 617-664-3377
or
Steve Maguire, +1 617-664-3001
or
Marie McGehee, +1 617-664-1898