State Street Expands Investment Servicing Team in North America as Customer Demand for Integrated Services Continues to Grow
September 12 2006 - 10:10AM
Business Wire
Appoints Virginia Meany to Key Role within North American
Operations State Street Corporation (NYSE:STT), the world's leading
provider of financial services to institutional investors, today
announced the appointment of Virginia Meany to a newly created role
as senior vice president within its North American investor
services team. Meany, who will report to James S. Phalen, executive
vice president and head of State Street's North America investment
servicing business, will join State Street later this month. This
appointment comes at a time when State Street has been building
upon its leadership position in the North American market.
Underpinning this success is State Street's industry-leading array
of investment services including custody, fund accounting, fund
administration and performance analytics. Meany joins State Street
from JPMorgan Chase where she was president of its worldwide
securities services business responsible for mutual fund investment
operations. Prior to this position, she held senior roles including
head of annuity services at Travelers Life and Annuity and senior
vice president at Fidelity Investments, responsible for transfer
agency operations and institutional client services. Meany holds a
bachelors degree and masters in business administration from Boston
College. She serves on the Board of Trustees for NICSA and is
currently Vice Chair. "We're delighted to be expanding our
management team with Virginia's appointment," said Phalen. "Her
in-depth knowledge of the investment servicing industry - including
solutions for complex investment vehicles - will greatly complement
our existing intellectual capital and enable us to advance our
leadership in this key market for State Street." In this new role,
Meany will be responsible for managing some of State Street's
largest North American customer relationships. With operations that
span the entire continent, State Street is the leading investment
service provider to institutional investors in the region. "This is
an exciting opportunity to build on a world-class franchise at
State Street and be part of an industry-leading team," said Meany.
"This is an age of tremendous change within our industry and one of
increasing complexity for our customers. I'm looking forward to
being able to offer innovative solutions to customers as we guide
them to meet market challenges and achieve their goals." State
Street Corporation (NYSE: STT) is the world's leading specialist in
providing institutional investors with investment servicing,
investment management and investment research and trading services.
With $10.9 trillion in assets under custody and $1.5 trillion in
assets under management as at 30 June 2006, 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. This news announcement contains
forward-looking statements as defined by United States securities
laws, including statements about the financial outlook and business
environment. Those statements are based on current expectations and
involve a number of risks and uncertainties, including those
related to the pace at which State Street adds new clients or at
which existing clients use additional services, the value of global
and regional financial markets, the pace of cross-border investment
activity, changes in interest rates, the pace of worldwide economic
growth and rates of inflation, the extent of volatility in currency
markets, consolidations among clients and competitors, State
Street's business mix, the dynamics of markets State Street serves,
and State Street's success at integrating and converting
acquisitions into its business. Other important factors that could
cause actual results to differ materially from those indicated by
any forward-looking statements, are set forth in State Street's
2005 annual report on Form 10-K, particularly in Item 1A, "Risk
Factors," and the Corporation's subsequent SEC filings which should
be read before making any investment decision. The forward-looking
statements contained in this press release speak only as of the
date hereof, September 12, 2006, and the Corporation will not
undertake efforts to revise those forward-looking statements to
reflect events after this date.
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