State Street Corporation (NYSE:STT) announced today that its Chief Financial Officer, Michael (Mike) W. Bell will step down from his role within the next year. An expected period of approximately 12 months before his departure will allow for State Street to conduct a comprehensive search for his successor, and for an orderly transition of the finance function. Bell has held the role for almost three years and will continue to serve as CFO until the appointment of a successor.

“I want to thank Mike for his contributions during a very challenging time for our industry, including the role he’s played in building out a very strong team within our finance organization and strengthening our capital position,” said Jay Hooley, State Street’s chairman and CEO. “We appreciate his commitment to ensuring a thorough transition process for his successor.”

“I have relished this role, particularly working with such a great team at State Street,” said Bell. “I will focus now on making sure that the handover of responsibilities is as seamless as possible.”

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 $28 trillion in assets under custody and administration and $2 trillion* in assets under management as of December 31, 2015, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.

*Assets under management were $2 trillion as of December 31, 2015. Assets under management include approximately $22 billion as of December 31, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.

State Street CorporationAnthony Ostler, +1-617-664-3477orCarolyn Cichon, +1-617-664-8672

State Street (NYSE:STT)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more State Street Charts.
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more State Street Charts.