State Street Global Markets Adds New Macro Strategist to Global Research Team

State Street Global Markets, the investment research and trading arm of State Street Corporation (NYSE: STT), today announced the appointment of John Herrmann to its global macro strategy team.

Herrmann, who joins State Street Global Markets as a Senior Fixed Income Strategist based in Boston, will report to Michael Metcalfe, Global Head of Macro Strategy. He earned his doctorate in mathematical economics from Cornell University, specializing in non-linear dynamics, economic growth, business cycle theory and monetary economics. He brings more than 15 years of experience as a forecaster of US macro-economic and employment growth and trends to his new role. Herrmann was previously the president of Herrmann Forecasting LLC, a consultancy focused on providing value analysis and forecasting real-time events.

Prior to founding Herrmann Forecasting, Herrmann held a number of senior interest rate strategy positions at Wall Street firms including Merrill Lynch, IDEAglobal and Rabobank.

“The market volatility of the last two years has only underscored the value of providing fact-based, independent research to our institutional client base,” said Jeremy Armitage, senior managing director and global head of research for State Street Global Markets. “We are pleased to welcome John to the team. His fixed-income research capabilities and extensive experience in macro-economic and interest-rate modeling will complement our global research offerings based on investor behavior.”

“State Street Global Markets is a known leader in innovative research and I am proud to be joining the team,” said Herrmann.

State Street Global Markets’ research team of leading academic and industry experts is committed to continually advancing the science, including theory and application of its proprietary investor behavior research and innovative portfolio and risk management technologies, to help its customers challenge conventional thinking, shape ideas, make more informed investment decisions and deliver measurable results.

About 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 $18.8 trillion in assets under custody and administration and $1.9 trillion in assets under management at December 31, 2009, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street at www.statestreet.com.

About State Street Global Markets

State Street Global Markets provides specialized research, trading, securities lending and innovative portfolio strategies to owners and managers of institutional assets. Its goal is to enhance and preserve portfolio values through original flow-based research, proprietary portfolio and risk management technologies, trading optimization and global connectivity. Its unique position at the crossroads of the global markets enables its sales and trading professionals to tap diverse sources of liquidity and provide cost-effective solutions.

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