State Street to Appoint Eric Aboaf as Chief Financial Officer
September 28 2016 - 9:00AM
Business Wire
State Street Corporation (NYSE: STT) announced today that Eric
Aboaf will join State Street in December 2016 as executive vice
president and a member of its Management Committee, the company’s
senior-most policy-making and strategy group. Aboaf, age 52, will
succeed Mike Bell as chief financial officer in March 2017. Mr.
Bell’s departure was previously announced in March 2016. Aboaf will
report to Jay Hooley, State Street’s chairman and chief executive
officer.
Aboaf joins State Street from Citizens Financial Group where he
was CFO with responsibility for all finance functions, including
treasury, investor relations and corporate development where he
spearheaded balance sheet optimization and expense efficiency.
Prior to this role he was with Citigroup for 12 years, most
recently as global treasurer managing the company’s balance sheet,
maintaining strong liquidity levels, improving net interest margin
and optimizing the company’s capital structure to conform with the
new regulatory environment. Prior to that, he was CFO of
Citigroup’s institutional client group, which includes their
custodial services business.
“Eric has a dozen years of experience working within a global
financial institution and has a strong understanding of the
regulatory landscape,” said Hooley. “His wide range of finance,
capital markets and expense efficiency expertise will further
strengthen our finance organization and support our goal of
delivering value to our shareholders.”
As CFO at State Street Aboaf will be responsible for the
company’s global financial strategy and finance functions,
including treasury, accounting, tax and reporting and investor
relations.
Aboaf currently serves as a Board member at the New York City
Urban Debate League and the New York Council for the
Humanities.
About State StreetState 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 $27.78
trillion in assets under custody and administration and $2.3
trillion* in assets under management as of June 30, 2016, 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 $2.30 trillion as of June 30,
2016. AUM reflects approx. $40 billion (as of June 30, 2016) with
respect to which State Street Global Markets, LLC (SSGM) serves as
marketing agent; SSGM and State Street Global Advisors are
affiliated.
Forward-Looking
StatementsThis news release contains forward-looking
statements as defined by United States securities laws, including
statements relating to our goals and expectations regarding our
business, operations and strategies. Forward-looking statements are
often, but not always, identified by such forward-looking
terminology as “will,” “goal,” “objective,” “intend,” “plan,”
“forecast,” “outlook,” “believe,” “anticipate,” “estimate,” “seek,”
“may,” “trend,” “target,” “strategy” and “expect,” 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 the date of this news release. Important factors that
could cause actual results to differ materially from those
indicated by any forward-looking statements are set forth in our
2015 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 news release speak only as of the date hereof, and we do not
undertake efforts to revise those forward-looking statements to
reflect events after that date.
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State Street CorporationAnthony Ostler, +1 617-664-3477orCarolyn
Cichon, +1 617-664-8672
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