STT State Street Corporation

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced a series of organizational changes aimed at advancing its sales and client infrastructure in Europe and sales efforts in the U.S. Intermediary market. Bill Hunt, president and chief executive officer of SSgA said: �Today we are the largest institutional investment manager in the world. Our more than 1,600 colleagues around the globe can be extremely proud of that achievement. We are steadfastly committed to building on this accomplishment with an even sharper focus on investment performance, client relationships and innovation.� In support of this commitment and the considerable growth that SSgA has experienced in its non-U.S. business over the past few years, Mark Lazberger, has been named president of SSgA�s international business. �Mark has had considerable impact in growing our global businesses over the past decade, first in Asia Pacific and now in Europe. This newly created position reflects the growing importance of SSgA�s international businesses and Mark�s significant contributions towards those ends,� said Hunt. Kanesh Lakhani has been appointed managing director of SSgA�s U.K. business reporting directly to Lazberger. As head of European marketing and consultant relations for the past nine years, Lakhani has advanced key relationships with the consultant community and has led a winning sales team that has grown mandates at a significant pace over the past decade. In the last year alone, the team won more than 80 mandates from new clients. Lakhani joined SSgA in 1997. �Kanesh�s dedication to this organization, his passion for success, and proven leadership of a team that has consistently outperformed in winning new business are among the qualities that make him well suited to take our business here to the next level,� said Lazberger. Lakhani assumes his new role from Paul Duncombe, who is leaving State Street Global Advisors to pursue other opportunities. Mike Wilson, who currently heads SSgA Ventures, the firm�s private equity initiative, is returning from Tokyo to London to assume responsibility for relationship management for the group�s top European clients reporting locally to Mark Lazberger. Mike has extensive experience in sales and the investment management business, having managed State Street sales across the U.K., Europe, the Middle East and South Africa. He will also retain responsibility for SSgA Ventures, which will continue to report to Hunt. Supporting SSgA�s continued focus on global expansion, Andrew Astley has been appointed chief operating officer for Europe. Previously based in Boston, as head of new product development at SSgA, Astley will be responsible for pan-European product development, investment operations, finance, compliance, legal and information technology. Greg Ehret, who most recently co-headed SSgA�s sales of exchange-traded funds, mutual funds and separately managed accounts, has relocated from Boston to London to lead all sales and distribution throughout Europe as well as operations in Brussels, Dubai and Italy. Astley and Ehret will report to Lazberger. In the U.S., SSgA has been a leading provider of investment solutions to institutional clients for nearly 30 years. Using that foundation of investment skill, SSgA has also been very successful in the intermediary market. To strengthen that momentum, Tony Rochte has joined SSgA from Barclays Global Investors to head U.S. Intermediary sales and client service, including the distribution of exchange-traded funds, mutual funds, and separately managed accounts. He will report to Marc Brown, chief marketing officer. Rochte was national sales manager for iShares for the past six years. �Tony�s experience will be paramount to our efforts to further develop our intermediary distribution success,� said Brown. Jim Ross, senior managing director, who together with Greg Ehret has led SSgA�s recent advances with ETFs and in the intermediary market, will continue to oversee new product development in this space. Jim is a pioneer in the ETF industry, having worked on the very first ETF, the SPDR. With Tony Rochte�s arrival, Greg Ehret�s transition to Europe, and Jim Ross� deep expertise, SSgA is well positioned globally for further success in these market segments. �These new organizational alignments and additions position SSgA to meet the increasingly complex challenges of our clients and remain at the forefront of global growth and innovation,� said Hunt. About State Street Global Advisors State Street Global Advisors, the investment management arm of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.5 trillion in assets under management as of June 30, 2006, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com. State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced a series of organizational changes aimed at advancing its sales and client infrastructure in Europe and sales efforts in the U.S. Intermediary market. Bill Hunt, president and chief executive officer of SSgA said: "Today we are the largest institutional investment manager in the world. Our more than 1,600 colleagues around the globe can be extremely proud of that achievement. We are steadfastly committed to building on this accomplishment with an even sharper focus on investment performance, client relationships and innovation." In support of this commitment and the considerable growth that SSgA has experienced in its non-U.S. business over the past few years, Mark Lazberger, has been named president of SSgA's international business. "Mark has had considerable impact in growing our global businesses over the past decade, first in Asia Pacific and now in Europe. This newly created position reflects the growing importance of SSgA's international businesses and Mark's significant contributions towards those ends," said Hunt. Kanesh Lakhani has been appointed managing director of SSgA's U.K. business reporting directly to Lazberger. As head of European marketing and consultant relations for the past nine years, Lakhani has advanced key relationships with the consultant community and has led a winning sales team that has grown mandates at a significant pace over the past decade. In the last year alone, the team won more than 80 mandates from new clients. Lakhani joined SSgA in 1997. "Kanesh's dedication to this organization, his passion for success, and proven leadership of a team that has consistently outperformed in winning new business are among the qualities that make him well suited to take our business here to the next level," said Lazberger. Lakhani assumes his new role from Paul Duncombe, who is leaving State Street Global Advisors to pursue other opportunities. Mike Wilson, who currently heads SSgA Ventures, the firm's private equity initiative, is returning from Tokyo to London to assume responsibility for relationship management for the group's top European clients reporting locally to Mark Lazberger. Mike has extensive experience in sales and the investment management business, having managed State Street sales across the U.K., Europe, the Middle East and South Africa. He will also retain responsibility for SSgA Ventures, which will continue to report to Hunt. Supporting SSgA's continued focus on global expansion, Andrew Astley has been appointed chief operating officer for Europe. Previously based in Boston, as head of new product development at SSgA, Astley will be responsible for pan-European product development, investment operations, finance, compliance, legal and information technology. Greg Ehret, who most recently co-headed SSgA's sales of exchange-traded funds, mutual funds and separately managed accounts, has relocated from Boston to London to lead all sales and distribution throughout Europe as well as operations in Brussels, Dubai and Italy. Astley and Ehret will report to Lazberger. In the U.S., SSgA has been a leading provider of investment solutions to institutional clients for nearly 30 years. Using that foundation of investment skill, SSgA has also been very successful in the intermediary market. To strengthen that momentum, Tony Rochte has joined SSgA from Barclays Global Investors to head U.S. Intermediary sales and client service, including the distribution of exchange-traded funds, mutual funds, and separately managed accounts. He will report to Marc Brown, chief marketing officer. Rochte was national sales manager for iShares for the past six years. "Tony's experience will be paramount to our efforts to further develop our intermediary distribution success," said Brown. Jim Ross, senior managing director, who together with Greg Ehret has led SSgA's recent advances with ETFs and in the intermediary market, will continue to oversee new product development in this space. Jim is a pioneer in the ETF industry, having worked on the very first ETF, the SPDR. With Tony Rochte's arrival, Greg Ehret's transition to Europe, and Jim Ross' deep expertise, SSgA is well positioned globally for further success in these market segments. "These new organizational alignments and additions position SSgA to meet the increasingly complex challenges of our clients and remain at the forefront of global growth and innovation," said Hunt. About State Street Global Advisors State Street Global Advisors, the investment management arm of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.5 trillion in assets under management as of June 30, 2006, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.