State Street Announces ESG-Focused Partnership with Professor George Serafeim of Harvard Business School
March 14 2019 - 9:30AM
Business Wire
Serafeim Joins Roster of Renowned Partners at Firm’s Academic
Research Arm, State Street Associates
State Street Corporation (NYSE: STT) today announced a new
partnership with George Serafeim, professor of Business
Administration at Harvard Business School, to advance its research
agenda in Environmental, Social and Governance (ESG) investing on
behalf of its clients. Widely published and recently recognized by
Barron’s as “one of the most influential people in ESG investing,”
Serafeim’s research focuses on measuring, driving and communicating
corporate performance and social impact as well as the practical
integration of ESG criteria into investment management.
“George is among the world’s leading voices on ESG and
sustainability issues,” said Lou Maiuri, State Street’s chief
operating officer. “As with all of our academic partnerships, our
focus will be on practical solutions that our clients can
implement. What frameworks should investors use and how should they
incorporate material ESG factors into their investment process?
These are the questions we aim to tackle.”
State Street Associates® (SSA), the company’s academic research
arm, combines the worlds of financial theory and practice. SSA
leverages data-driven insights to develop risk, investor behavior,
sentiment and economic indicators for the owners and managers of
the world’s capital. It also conducts research into the key
practical challenges associated with managing institutional
portfolios, including asset allocation, risk, alternatives, and
investing for the long term.
“State Street Associates has a long history of successful
partnerships with academics and an impressive track record of
building intellectual capital and practical solutions,” said George
Serafeim, professor of business administration, Harvard Business
School. “I am excited about this opportunity to collaborate with
State Street to move the ESG investing field forward.”
The recipient of numerous research-related accolades, Serafeim
is widely cited in academic articles and journals and his research
work is often covered by national media. Serafeim earned his
doctorate in business administration at Harvard Business School and
received a master’s degree in accounting and finance from the
London School of Economics and Political Science.
State Street is committed to being a leader in environmental
sustainability and governance issues, including finding new ways to
help clients integrate ESG practices in pursuit of better
investment outcomes including investment strategies, stewardship
and data and analytics tools. As a company, State Street aims to be
a responsible corporate entity by pursuing aggressive targets with
respect to diversity, sustainability, and governance. For more
information visit the websites of State Street and State Street
Global Advisors.
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 $31.62 trillion in assets
under custody and administration and $2.51 trillion* in assets
under management as of December 31, 2018, 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.
*This figure is presented as of December 31, 2018 and includes
approximately $32.44 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
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