State Street Chief Financial Officer to Retire in 2013
November 20 2012 - 5:19PM
Business Wire
State Street Corporation (NYSE:STT) announced today that
Executive Vice President and Chief Financial Officer, Edward J.
Resch, 60, has informed the company of his plan to retire in 2013,
after more than a decade in the role, following the appointment of
his successor and an orderly transition of the function.
“Ed has been our CFO during one of the most challenging times
for our industry,” said Jay Hooley, chairman, CEO and president of
State Street. “We are fortunate to have benefited from his
unwavering dedication for the past ten years and, particularly, for
his leadership during the recent critical period of the financial
crisis. The timing of his retirement will enable a thorough
transition process to his successor.”
State Street will conduct a comprehensive internal and external
search for a new chief financial officer.
“I feel very fortunate to have worked as part of this management
team over the past decade,” said Edward J. Resch. “I look forward
to being actively involved in the leadership transition of the
finance function.”
About State Street
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 $23.4 trillion in assets
under custody and administration and $2.1 trillion in assets under
management at September 30, 2012, State Street operates in 29
countries and more than 100 geographic markets. For more
information, visit State Street’s web site at
www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust ($75.3
billion as of September 30, 2012), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
Forward-Looking Statements: This news release contains
forward-looking statements as defined by United States securities
laws, including statements relating to our goals and expectations
regarding our business, financial and capital condition, results of
operations, investment portfolio performance and strategies, the
financial and market outlook, governmental and regulatory
initiatives and developments, and the business environment.
Forward-looking statements are often, but not always, identified by
such forward-looking terminology as “plan,” “program,” “expect,”
“look,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “will,”
“trend,” “target,” and “goal,” or similar statements or variations
of such terms. 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 our
expectations or beliefs as of any date subsequent to November 20,
2012.
Important factors that could cause actual results to differ
materially from those indicated by any forward-looking statements
are set forth in our 2011 Annual Report on Form 10-K and our
subsequent SEC filings. We encourage 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 presentation speak only as of the date
hereof, November 20, 2012, and we do not undertake efforts to
revise those forward-looking statements to reflect events after
that date.
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