State Street Pledges Support for Haiti Disaster Relief Aid
January 15 2010 - 12:00PM
Business Wire
The State Street Foundation, the charitable grantmaking arm of
State Street Corporation (NYSE:STT), today announced a financial
commitment to support relief efforts following Tuesday’s earthquake
in Haiti. State Street Corporation is one of the world’s leading
providers of financial services to institutional investors.
The State Street Foundation’s Disaster Relief Emergency
Assistance Fund made a grant of $400,000 to Oxfam America’s Haiti
Earthquake Response Fund following this unprecedented natural
disaster in Haiti. In addition to the Foundation’s grant, State
Street also initiated a special matching gift program for all
employees who wish to contribute to the relief work. Employee gifts
made to Haiti relief funds through Oxfam America and global Oxfam
chapters will be matched up to $100,000.
“Our employees have a long history of generously supporting
communities around the world, particularly in times of human
tragedy as exemplified by the extraordinary events which have
occurred in Haiti recently,” said George A. Russell Jr., president
of the State Street Foundation. “The scale of destruction in Haiti
as a result of the earthquake is of a magnitude that requires the
immediate support of the global community and we are proud to
partner with Oxfam America in this effort.”
Oxfam has more than three decades of experience in Haiti. The
organization’s Haiti Earthquake Response Fund is designed to
provide both immediate and ongoing support for the relief
efforts.
The State Street Foundation’s Disaster Relief Emergency
Assistance Fund is activated when large-scale natural or man-made
disasters necessitate immediate support for recovery efforts.
Recent contributions from the fund in 2009 include support for
relief work following bushfires in Australia, an earthquake in
L’Aquila, Italy and Typhoon Morakot in Taiwan.
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 $17.9 trillion in assets
under custody and administration and $1.7 trillion in assets under
management at September 30, 2009, 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.
The State Street Foundation
The State Street Foundation offers grant support to initiatives
that bring long-term solutions to important community issues such
as workforce development and education among others. Founded in
1977, the Foundation has since given $165 million in grants to
charitable organizations in communities where State Street has a
business presence. The State Street Foundation is funded by State
Street Corporation, which provides a portion of its pre-tax profits
every year to the Foundation.
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