State Street Names James Phalen Vice Chairman
February 24 2014 - 9:18AM
Business Wire
State Street Corporation (NYSE:STT) announced today that it has
named James (Jim) Phalen to Vice Chairman, effective March 1,
2014.
A 21-year veteran of State Street, Phalen, age 63, has served as
executive vice president and head of Global Operations and
Technology since 2010. As a member of State Street’s Management
Committee, the company’s senior-most strategy and policy making
group, Phalen is responsible for the firm’s Business Operations and
Information Technology program including innovation and cloud
computing initiatives. Previously, he led international for State
Street’s Global Services and Global Markets businesses. Phalen also
held several leadership positions within State Street’s asset
management division.
“Jim has been instrumental in transforming and redefining our
business operations and technology infrastructure to help us to
stay ahead of the changes in the industry and deliver better
solutions for our clients,” said Joseph L. Hooley, chairman,
president and chief executive officer at State Street. “As
technology continues to set the pace, it will be even more
important that we use IT to a full competitive advantage. This
appointment reflects the value of Jim’s insights and contributions
to our future success.”
Phalen is a director of Boston Financial Data Services and the
Boston Medical Center. He holds a degree from Boston College and is
a graduate of the Stonier Graduate School of Banking. He also
attended the Executive Development Program at Massachusetts
Institute of Technology’s Sloan School of Management.
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 $27.4 trillion in assets
under custody and administration and $2.3 trillion in assets under
management* at December 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.
$31 billion as of December 31, 2013), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
State Street CorporationCarolyn Cichon, +1
617-664-8672ccichon@statestreet.com@StateStreet
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