BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT), the world's leading provider of
financial services to institutional investors, today announced the
election of Robert Kaplan and Patrick de Saint-Aignan to its board of
directors. Robert Kaplan is professor of management practice at Harvard
Business School and former vice chairman of The Goldman Sachs Group with
oversight for the investment banking and investment management
divisions. Patrick de Saint-Aignan, a dual citizen of France and the
United States, is a 30-year veteran of Morgan Stanley who held several
positions as a managing director, including head of the firm's global
risk management function. Effective immediately, the addition of these
two members brings the company's total number of directors to 14.
"We are pleased to welcome Robert Kaplan and Patrick de Saint-Aignan to
our board. Their global experience and leadership in financial services
including senior roles in investment management, risk management and
capital markets will provide valuable perspective as we continue to
strengthen our presence in key markets around the world," said Ronald E.
Logue, chairman and chief executive officer of State Street Corporation.
"With the addition of these new directors, our board continues to
reflect a diverse range of global experiences and market knowledge."
Prior to joining Harvard in September 2005, Kaplan, age 50, served as
vice chairman of The Goldman Sachs Group with responsibility for
investment banking and investment management divisions. During his
tenure with Goldman Sachs, Kaplan served in a number of roles, including
global co-head of the investment banking division, head of the corporate
finance department and head of Asia-Pacific investment banking. He was
also a member of the firm's management committee, served as co-chairman
of the firm's partnership committee and chairman of the Goldman Sachs
Pine Street Leadership Program. Kaplan is co-chairman of the board of
Project A.L.S., co-chairman of the board of the TEAK Fellowship, and is
also a member of the boards of the Harvard Medical School, Harvard
Management Company, and the Ford Foundation. Kaplan received an MBA from
Harvard and a bachelor of science from the University of Kansas.
Patrick de Saint-Aignan, age 60, retired in 2007 from Morgan Stanley
having held multiple positions in corporate finance, capital markets and
firm management during his 30-year tenure. At Morgan Stanley, he headed
successively the firm's global fixed-income derivatives business, its
debt capital markets activities, its office in Paris and the firm-wide
risk management function. He was a founder, director and chairman of the
International Swaps and Derivatives Association; censeur on the
Supervisory Board of IXIS Corporate and Investment Bank; and Independent
Director of the Bank of China Limited, where he served as chairman of
the audit committee and a member of the risk policy committee and the
personnel and remuneration committee. De Saint-Aignan was honored with Risk
Magazine's Lifetime Achievement Award in 2004. He is a member of the
board of directors of Allied World Assurance Company, where he is
chairman of the compensation committee and a member of the audit
committee and enterprise risk committee. De Saint-Aignan received an MBA
from Harvard University and his BBA from the Ecole des Hautes Etudes
Commerciales.
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 $12 trillion in assets under custody and $1.4 trillion in assets
under management at December 31, 2008, State Street operates in 27
countries and more than 100 geographic markets worldwide. For more
information, visit State Street's website 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
strategies, as well as its goals, opportunities and business
environment. These statements are not guarantees of future results or
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 the global financial market disruption and the current worldwide
economic recession; potential changes in the competitive environment;
the level and volatility of interest rates and the performance and
volatility of securities, credit, currency and other markets; the
performance and demand for the products and services we offer; and the
other financial, market, competitive, regulatory and business factors
set forth in State Street's 2008 Annual Report on Form 10-K and its
subsequent SEC filings. State Street encourages investors to read these
filings, particularly the sections on Risk Factors, 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, March 13, 2009,
and State Street does not undertake efforts to revise those
forward-looking statements to reflect events after this date.
Source: State Street Corporation
Contact: State Street Corporation
Carolyn Cichon, +1 617-664-8672