State Street Names Jay Hooley to President and Chief Operating OfficerState Street Names Jay Hooley to President and Chief Opera
April 30 2008 - 3:00PM
Business Wire
State Street Corporation (NYSE: STT), the world�s leading provider
of financial services to institutional investors, today announced
that its board of directors has appointed Jay Hooley, vice chairman
and head of State Street�s global investment servicing, trading and
research businesses, to president and chief operating officer. He
will continue to report directly to Ronald E. Logue, chairman and
CEO of State Street. Hooley, age 51, is responsible for all of
State Street�s asset servicing activities worldwide including
investment servicing, investment research and trading and
securities finance. Under his leadership, State Street has
consistently achieved high growth, expanded its global presence and
enhanced its capabilities and services for its customers. Today the
company is a leading provider of investment servicing to
institutional investors including alternative investment, mutual
and offshore fund servicing, multi-asset class trading, securities
finance and transition management. �Jay is a proven leader with a
strong knowledge of our industry and the trends shaping its
future,� said Logue. �He has made a significant impact to our past
success and I have no doubt as president of State Street he will
have an equally profound impact on our future. His vision and
in-depth understanding of our businesses will ensure that
anticipating and meeting our customers� needs always remain at the
forefront of what we do.� Since joining State Street in 1986,
Hooley has held a number of leadership positions with the company.
After leading the company�s US Mutual Fund sales organization,
Hooley joined State Street�s shareholder servicing joint venture
with Kansas City-based DST systems. From 1988 to 1990, he served as
president and chief executive officer of National Financial Data
Services and went on to become president and chief executive
officer of Boston Financial Data Services from 1990 to 2000. During
this time, he oversaw the dramatic growth of the core domestic
services business and was responsible for the creation of
International Financial Data Services extending the joint venture�s
shareholder servicing offering to Europe and Canada. He returned to
State Street in 2000 to manage its global investment servicing
business and assumed his current responsibilities in 2004. Hooley,
a member of State Street�s Operating Group, the company�s most
senior strategy and policy-making team, was named vice chairman of
State Street in 2006. �This is a time of tremendous opportunity
within our industry although one that is coupled with heightened
complexity and challenges for our customers,� said Hooley. �As
president and COO I am committed to continuing to leverage the
considerable advantages we have established in terms of global
reach, scale and investment in technology and innovation to benefit
all of our constituencies.� Hooley is an active member of a number
of community organizations. He is a director on the board of the
Boys & Girls Clubs of Boston, a trustee of The Prince of Wales
International Business Leaders Forum (IBLF) and a member of The
Boston Club�s Corporate Advisory Board, which is focused on
identifying and recommending qualified women candidates for
openings on corporate boards. State Street Corporation (NYSE: STT)
is the world's leading provider of financial services to
institutional investors including investment servicing, investment
management and investment research and trading. With $15 trillion
in assets under custody and $2 trillion in assets under management
at March 31, 2008, 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. Forward-Looking
Statements This news announcement contains forward-looking
statements as defined by United States securities laws, including
statements about State Street�s goals, opportunities and business
environment. 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 State
Street's expectations or beliefs as of any date subsequent to the
date of this release. Important factors that may affect future
results and outcomes include our ability to integrate and convert
acquisitions into our business; interest rates, volatility,
liquidity and other factors relevant to securities, currency and
other markets; our ability to attract non-interest bearing deposits
and other low-cost funds; the performance and demand for the
products and services we offer; the competitive environment in
which we operate; our ability to continue to grow revenue, control
expenses and attract the capital necessary to achieve our business
goals and comply with regulatory requirements; and the other
financial, market, competitive, regulatory and business factors set
forth in State Street's 2007 Annual Report on Form 10-K and its
subsequent SEC filings. State Street encourages investors to read
its 10-K, particularly the section on Risk Factors, and its
subsequent SEC filings for additional information with respect to
any forward-looking statements and prior to making any investment
decision. The forward-looking statements contained in this press
release speak only as of the date hereof, April 30, 2008, and State
Street will not undertake efforts to revise those forward-looking
statements to reflect events after this date.
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2024 to Jul 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2023 to Jul 2024