BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT) announced today that its Chief
Financial Officer, Michael (Mike) W. Bell will step down from his role
within the next year. An expected period of approximately 12 months
before his departure will allow for State Street to conduct a
comprehensive search for his successor, and for an orderly transition of
the finance function. Bell has held the role for almost three years and
will continue to serve as CFO until the appointment of a successor.
“I want to thank Mike for his contributions during a very challenging
time for our industry, including the role he’s played in building out a
very strong team within our finance organization and strengthening our
capital position,” said Jay Hooley, State Street’s chairman and CEO. “We
appreciate his commitment to ensuring a thorough transition process for
his successor.”
“I have relished this role, particularly working with such a great team
at State Street,” said Bell. “I will focus now on making sure that the
handover of responsibilities is as seamless as possible.”
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 $28 trillion in assets under custody and administration
and $2 trillion* in assets under management as of December 31, 2015,
State Street operates in more than 100 geographic markets worldwide,
including the US, Canada, Europe, the Middle East and Asia. For more
information, visit State Street’s website at www.statestreet.com.
*Assets under management were $2 trillion as of December 31, 2015.
Assets under management include approximately $22 billion as of December
31, 2015, for which State Street Global Markets, LLC, an affiliate of
SSGA, serves as the distribution agent.
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State Street Corporation
Anthony Ostler, +1-617-664-3477
or
Carolyn
Cichon, +1-617-664-8672
Source: State Street Corporation