BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT) announced today that it has named
Michael W. Bell as executive vice president and member of its Management
Committee, the company’s senior-most policy-making and strategy group.
Bell, age 49, will assume the role of chief financial officer in August,
following the planned retirement of Edward J. Resch (previously
announced in November 2012) who has served in the role for eleven years.
As CFO, Bell will be responsible for State Street’s companywide
financial strategy and functions including treasury, accounting, tax and
reporting and investor relations. He will report directly to Jay Hooley,
State Street’s chairman, president and chief executive officer.
State Street to Appoint Michael W. Bell as Chief Financial Officer (Photo: Business Wire)
Bell has almost three decades of experience within financial services.
He most recently served as chief financial officer of Manulife Financial
Corporation in Toronto where he was responsible for the global financial
functions for one of the world’s largest life insurance and financial
services companies, with principal operations in Asia, Canada and the
United States. Prior to Manulife, Bell held senior executive roles
spanning a 24-year career at Cigna Corporation including seven years as
chief financial officer of the corporation and two years as president of
Cigna Group Insurance.
“We’re delighted to welcome Michael to our management team,” said
Hooley. “His impressive career experience as CFO of two large global
companies and knowledge of financial markets, combined with strong
leadership and management skills, will enhance our commitment to having
a best-in-class finance team and to delivering long-term value to our
shareholders.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading
providers of financial services to institutional investors including
investment servicing, investment management and investment research and
trading. With $25.4 trillion in assets under custody and administration
and $2.2 trillion in assets under management at March 31, 2013, State
Street operates in more than 100 geographic markets worldwide, including
the U.S., Canada, Europe, the Middle East and Asia. For more
information, visit State Street’s web site at www.statestreet.com.
This AUM includes the assets of the SPDR Gold Trust (approx. $62.7
billion as of March 31, 2013), for which State Street Global Markets,
LLC, an affiliate of State Street Global Advisors, serves as the
marketing agent.
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State Street Corporation
Alicia Curran Sweeney, +1
617-664-3001
www.statestreet.com
@StateStreet
Source: State Street Corporation