State Street Board of Directors Appoints Joseph L. (Jay) Hooley as Chairman

State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that its board of directors has appointed Joseph L. (Jay) Hooley as chairman, effective January 1, 2011, following Ronald E. Logue’s planned retirement as a director. Hooley, who has served as chief executive officer (CEO) since March 2010, will remain in that office. Kennett F. Burnes will continue in his role as State Street’s independent lead director.

“We are pleased to appoint Jay as chairman of State Street,” said Burnes. “Since his appointment as CEO in March, Jay has made the difficult and strategic decisions that our board believes has set State Street on course for leadership and growth.”

Since joining State Street in 1986, Hooley, age 53, has held a number of leadership positions including head of the company’s US Mutual Fund sales organization, president and chief executive officer of National Financial Data Services and president and chief executive officer of Boston Financial Data Services. He returned to State Street in 2000 to manage its global investment servicing business and was named president and chief operating officer in 2008. Hooley was elected as a director in October 2010.

About State Street

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment management, investment research and trading and investment servicing. With $20.2 trillion in assets under custody and administration and $1.9 trillion in assets under management at September 30, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.

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