State Street Elects Two New Members to Its Board of Directors
March 13 2009 - 4:36PM
Business Wire
State Street Corporation (NYSE:STT), the world�s leading
provider of financial services to institutional investors, today
announced the election of Robert Kaplan and Patrick de Saint-Aignan
to its board of directors. Robert Kaplan is professor of management
practice at Harvard Business School and former vice chairman of The
Goldman Sachs Group with oversight for the investment banking and
investment management divisions. Patrick de Saint-Aignan, a dual
citizen of France and the United States, is a 30-year veteran of
Morgan Stanley who held several positions as a managing director,
including head of the firm�s global risk management function.
Effective immediately, the addition of these two members brings the
company�s total number of directors to 14.
�We are pleased to welcome Robert Kaplan and Patrick de
Saint-Aignan to our board. Their global experience and leadership
in financial services including senior roles in investment
management, risk management and capital markets will provide
valuable perspective as we continue to strengthen our presence in
key markets around the world,� said Ronald E. Logue, chairman and
chief executive officer of State Street Corporation. �With the
addition of these new directors, our board continues to reflect a
diverse range of global experiences and market knowledge.�
Prior to joining Harvard in September 2005, Kaplan, age 50,
served as vice chairman of The Goldman Sachs Group with
responsibility for investment banking and investment management
divisions.�During his tenure with Goldman Sachs, Kaplan served in a
number of roles, including global co-head of the investment banking
division, head of the corporate finance department and head of
Asia-Pacific investment banking. He was also a member of the firm�s
management committee, served as co-chairman of the firm�s
partnership committee and chairman of the Goldman Sachs Pine Street
Leadership Program. Kaplan is co-chairman of the board of Project
A.L.S., co-chairman of the board of the TEAK Fellowship, and is
also a member of the boards of the Harvard Medical School, Harvard
Management Company, and the Ford Foundation. Kaplan received an MBA
from Harvard and a bachelor of science from the University of
Kansas.
Patrick de Saint-Aignan, age 60, retired in 2007 from Morgan
Stanley having held multiple positions in corporate finance,
capital markets and firm management during his 30-year tenure. At
Morgan Stanley, he headed successively the firm�s global
fixed-income derivatives business, its debt capital markets
activities, its office in Paris and the firm-wide risk management
function. He was a founder, director and chairman of the
International Swaps and Derivatives Association; censeur on the
Supervisory Board of IXIS Corporate and Investment Bank; and
Independent Director of the Bank of China Limited, where he served
as chairman of the audit committee and a member of the risk policy
committee and the personnel and remuneration committee. De
Saint-Aignan was honored with Risk Magazine�s Lifetime Achievement
Award in 2004. He is a member of the board of directors of Allied
World Assurance Company, where he is chairman of the compensation
committee and a member of the audit committee and enterprise risk
committee. De Saint-Aignan received an MBA from Harvard University
and his BBA from the Ecole des Hautes Etudes Commerciales.
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 $12 trillion in assets under
custody and $1.4 trillion in assets under management at December
31, 2008, State Street operates in 27 countries and more than 100
geographic markets worldwide. For more information, visit State
Street�s website 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 strategies, as well as its goals,
opportunities and business environment. These statements are not
guarantees of future results or 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 the
global financial market disruption and the current worldwide
economic recession; potential changes in the competitive
environment; the level and volatility of interest rates and the
performance and volatility of securities, credit, currency and
other markets; the performance and demand for the products and
services we offer; and the other financial, market, competitive,
regulatory and business factors set forth in State Street's 2008
Annual Report on Form 10-K and its subsequent SEC filings. State
Street encourages 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 press release speak only as of the date hereof, March 13,
2009, and State Street does not undertake efforts to revise those
forward-looking statements to reflect events after this date.
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