Year Up Greater Boston Opens Employer-Sponsored Learning Community at State Street’s Greater Boston Office
November 14 2016 - 10:00AM
Business Wire
Site to Increase Number of Year Up Students Interning at State
Street by 70 Students Annually
State Street Corporation (NYSE: STT) announced today that it has
opened the first scalable and sustainable employer-sponsored Year
Up learning site at its John Adams Building in Quincy,
Massachusetts. Students at the new site will take Year Up classes
to gain a variety of technical and professional skills for five
months, and will be paired with State Street mentors who will
contribute to the students’ hands-on skills development and prepare
them for success in the second part of the program, when students
will participate in a full-time, six-month internship at State
Street.
Year Up was founded in 2000 on the premise to close the
“Opportunity Divide” in America by providing urban young adults
with the skills, experience and support that will empower them to
reach their potential through professional careers and higher
education.
Since 2003, State Street has sponsored more than 800 Year Up
interns and has hired more than 500 graduates of the Year Up
program. As a result of the new site, the number of Year Up interns
at State Street will increase annually by 70 students. State
Street’s goal is to hire up to 85 percent of these students as
full-time employees upon their graduation.
Last year, State Street selected Year Up as one of five
nonprofit partners for its Boston Workforce Investment Network
(Boston WINs) initiative, a program with a mission of advancing job
readiness and workforce development for youth across the city of
Boston. The company was recently named to the Boston Business
Journal’s 2016 list of “Top Charitable Companies” for its
investment in the Boston WINs program.
“Since State Street partnered with Year Up nearly 10 years ago,
the organization has become one of our strongest sources of skilled
and diverse talent,” said Michael Scannell, senior vice president
of Corporate Citizenship and head of the State Street Foundation.
“The opening of the Year Up learning center within our Quincy
office is an exciting opportunity to broaden and deepen our
partnership with Year Up, and our impact on the hard-working and
motivated individuals they serve. As the first company to create a
Year Up Learning Community on our campus, we hope this model can
serve as a blueprint for other employers to do the same.”
“State Street has been a tremendous partner to Year Up since its
earliest days, and we are proud to initiate this groundbreaking
employer-based campus partnership with them,” said Bob Dame,
executive director, Year Up Greater Boston. “By allowing Year Up to
root our program within their corporate culture, we believe we can
fast-track our students’ ability to attain the skills needed to be
successful in today’s economy while helping State Street to meet
their unique talent needs.”
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 $29 trillion in assets under
custody and administration and $2 trillion* in assets under
management as of September 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 $2.4 trillion as September 30,
2016. AUM reflects approx. $40 billion (as of September 30, 2016)
with respect to which State Street Global Markets, LLC (SSGM)
serves as marketing agent; SSGM and State Street Global Advisors
are affiliated.
About Year Up Inc.
Year Up's mission is to close the Opportunity Divide by
providing urban young adults with the skills, experience, and
support that will empower them to reach their potential through
professional careers and higher education. Year Up achieves this
mission through a high support, high expectation model that
combines marketable job skills, stipends, internships and college
credits. Its holistic approach focuses on students' professional
and personal development to place these young adults on a viable
path to economic self-sufficiency. Year Up currently serves more
than 3,000 students a year at sites in Arizona, Atlanta, Baltimore,
Boston, Chicago, Dallas, Jacksonville, Los Angeles, the National
Capital Region, New York City, Philadelphia, Providence, Puget
Sound, San Francisco Bay Area, and South Florida. To learn more,
visit www.yearup.org or www.youtube.com/yearupinc.
CORP-2357
Exp. Date: 11/30/16
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version on businesswire.com: http://www.businesswire.com/news/home/20161114005957/en/
State Street CorporationJulie Kane,
617-663-3001JEKane@StateStreet.com@StateStreet
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