Industry Leader and former Citigroup Asia CEO Will Drive Company’s
Continued Growth across Europe, Middle East, Latin America and Asia
Pacific Region
HONG KONG--(BUSINESS WIRE)--
State Street Corporation, (State Street), NYSE:STT today announced that
it has appointed Francisco Aristeguieta to chief executive officer for
its international business. Aristeguieta, who joins the company in July,
will report to State Street president and CEO, Ron O’Hanley and become a
member of the Company’s Management Committee, its senior-most strategy
and policy making group.
Aristeguieta, age 53, joins State Street from Citigroup where he most
recently served as CEO of its Asia business, overseeing 60,000 people
and a third of the company’s earnings. Prior to that role he served as
head of Citigroup’s business in Latin America and before that led its
Transaction Services Group in Latin America encompassing securities
servicing, trade and cash management, and was vice chairman for Banco de
Chile. His many non-profit and industry group board appointments include
The Asia Society, Junior Achievement Americas, and The American Chambers
of Commerce of Latin America.
“We are delighted to welcome Francisco to State Street,” said Ron
O’Hanley. “His deep experience and proven leadership qualities will
advance our strategy and growth objectives on behalf of our clients and
shareholders, and augment our already strong local management teams
outside of the US. This leadership appointment also supports our goal to
make State Street a more nimble and effective organization for our
clients.”
State Street has a strong presence in Europe, the Asia Pacific region
and the Middle East serving asset managers, asset owners, official
institutions, central banks, insurance companies and financial
intermediaries. Today, the Company derives more than 40 percent of its
revenues from outside the US, providing solutions for clients in 28
countries and more than 100 markets with about 25,000 employees. The
drivers of client demand for global support include the rapid
development of retirement schemes, the growth of collective investment
vehicles, as well as favorable demographic trends.
Initially based in Hong Kong, Aristeguieta will be responsible for all
of State Street’s business activities outside of the US including
driving strategy, stewarding client engagement, developing talent,
pursuing growth opportunities and increasing market share as well as
deepening relationships with local government officials and regulators.
He will work in partnership with State Street’s global business leaders
to deliver solutions, expertise and insights to clients globally.
“I am excited to be joining State Street, a leader in its industry and a
company that I admire,” said Francisco Aristeguieta. “I believe there
are tremendous opportunities ahead given State Street’s scale and global
footprint, and the innovation and talent it is bringing to the industry.
I look forward to building on these advantages and further expanding the
Company’s international reach, top-line growth and contribution to
results.”
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 $31.62 trillion in assets under custody and administration
and $2.51 trillion* in assets under management as of December 31, 2018,
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.
*This figure is presented as of December 31, 2018 and includes
approximately $32.44 billion of assets with respect to SPDR products for
which State Street Global Advisors Funds Distributors, LLC (SSGA FD)
acts solely as the marketing agent. SSGA FD and State Street Global
Advisors are affiliated.
Forward-Looking Statements
This News Release contains forward-looking statements within the meaning
of United States securities laws, including statements about roles,
responsibilities and potential of State Street’s recently appointed
chief executive officer for its international business and the drivers
of and growth prospects for that business. Forward-looking statements
are often, but not always, identified by such forward-looking
terminology as “will,” “expect,” “believe,” “look forward,” "priority,"
“objective,” “plan,” “strategy,” “anticipate,” “intend,” “estimate,”
“seek,” “may,” “trend,” and “goal,” or similar statements or variations
of such terms. 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 our expectations or
beliefs as of any time subsequent to the time that this News Release is
first issued. Important factors that could cause actual results to
differ materially from those indicated by any forward-looking statements
are set forth in our 2018 Annual Report on Form 10-K and our subsequent
SEC filings. We encourage 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 News Release
should not by relied on as representing our expectations or beliefs as
of any time subsequent to the time that this News Release is first
issued, and we do not undertake efforts to revise those forward-looking
statements to reflect events after that time
State Street Corporation One Lincoln Street, Boston, MA 02111-2900.
© 2019 State Street Corporation - All Rights Reserved
View source version on businesswire.com: https://www.businesswire.com/news/home/20190414005036/en/
Marc Hazelton
+1 617 662 1860
MHAZELTON@StateStreet.com
@StateStreet
Ilene Fiszel Bieler
+1 617 664 4122
IFiszelBieler@StateStreet.com
@StateStreet
Source: State Street Corporation