State Street to Appoint Michael W. Bell as Chief Financial Officer
June 06 2013 - 4:10PM
Business Wire
State Street Corporation (NYSE: STT) announced today that it has
named Michael W. Bell as executive vice president and member of its
Management Committee, the company’s senior-most policy-making and
strategy group. Bell, age 49, will assume the role of chief
financial officer in August, following the planned retirement of
Edward J. Resch (previously announced in November 2012) who has
served in the role for eleven years. As CFO, Bell will be
responsible for State Street’s companywide financial strategy and
functions including treasury, accounting, tax and reporting and
investor relations. He will report directly to Jay Hooley, State
Street’s chairman, president and chief executive officer.
State Street to Appoint Michael W. Bell
as Chief Financial Officer (Photo: Business Wire)
Bell has almost three decades of experience within financial
services. He most recently served as chief financial officer of
Manulife Financial Corporation in Toronto where he was responsible
for the global financial functions for one of the world’s largest
life insurance and financial services companies, with principal
operations in Asia, Canada and the United States. Prior to
Manulife, Bell held senior executive roles spanning a 24-year
career at Cigna Corporation including seven years as chief
financial officer of the corporation and two years as president of
Cigna Group Insurance.
“We’re delighted to welcome Michael to our management team,”
said Hooley. “His impressive career experience as CFO of two large
global companies and knowledge of financial markets, combined with
strong leadership and management skills, will enhance our
commitment to having a best-in-class finance team and to delivering
long-term value to our shareholders.”
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 $25.4 trillion in assets
under custody and administration and $2.2 trillion in assets under
management at March 31, 2013, State Street operates in more than
100 geographic markets worldwide, including the U.S., Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s web site at www.statestreet.com.
This AUM includes the assets of the SPDR Gold Trust (approx.
$62.7 billion as of March 31, 2013), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
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State Street CorporationAlicia Curran Sweeney, +1
617-664-3001www.statestreet.com@StateStreet
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