Industry Leader and former Citigroup Asia CEO Will Drive
Company’s Continued Growth across Europe, Middle East, Latin
America and Asia Pacific Region
State Street Corporation, (State Street), NYSE:STT today
announced that it has appointed Francisco Aristeguieta to chief
executive officer for its international business. Aristeguieta, who
joins the company in July, will report to State Street president
and CEO, Ron O’Hanley and become a member of the Company’s
Management Committee, its senior-most strategy and policy making
group.
Aristeguieta, age 53, joins State Street from Citigroup where he
most recently served as CEO of its Asia business, overseeing 60,000
people and a third of the company’s earnings. Prior to that role he
served as head of Citigroup’s business in Latin America and before
that led its Transaction Services Group in Latin America
encompassing securities servicing, trade and cash management, and
was vice chairman for Banco de Chile. His many non-profit and
industry group board appointments include The Asia Society, Junior
Achievement Americas, and The American Chambers of Commerce of
Latin America.
“We are delighted to welcome Francisco to State Street,” said
Ron O’Hanley. “His deep experience and proven leadership qualities
will advance our strategy and growth objectives on behalf of our
clients and shareholders, and augment our already strong local
management teams outside of the US. This leadership appointment
also supports our goal to make State Street a more nimble and
effective organization for our clients.”
State Street has a strong presence in Europe, the Asia Pacific
region and the Middle East serving asset managers, asset owners,
official institutions, central banks, insurance companies and
financial intermediaries. Today, the Company derives more than 40
percent of its revenues from outside the US, providing solutions
for clients in 28 countries and more than 100 markets with about
25,000 employees. The drivers of client demand for global support
include the rapid development of retirement schemes, the growth of
collective investment vehicles, as well as favorable demographic
trends.
Initially based in Hong Kong, Aristeguieta will be responsible
for all of State Street’s business activities outside of the US
including driving strategy, stewarding client engagement,
developing talent, pursuing growth opportunities and increasing
market share as well as deepening relationships with local
government officials and regulators. He will work in partnership
with State Street’s global business leaders to deliver solutions,
expertise and insights to clients globally.
“I am excited to be joining State Street, a leader in its
industry and a company that I admire,” said Francisco Aristeguieta.
“I believe there are tremendous opportunities ahead given State
Street’s scale and global footprint, and the innovation and talent
it is bringing to the industry. I look forward to building on these
advantages and further expanding the Company’s international reach,
top-line growth and contribution to results.”
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.
Forward-Looking Statements
This News Release contains forward-looking statements within the
meaning of United States securities laws, including statements
about roles, responsibilities and potential of State Street’s
recently appointed chief executive officer for its international
business and the drivers of and growth prospects for that business.
Forward-looking statements are often, but not always, identified by
such forward-looking terminology as “will,” “expect,” “believe,”
“look forward,” "priority," “objective,” “plan,” “strategy,”
“anticipate,” “intend,” “estimate,” “seek,” “may,” “trend,” and
“goal,” 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
time subsequent to the time that this News Release is first issued.
Important factors that could cause actual results to differ
materially from those indicated by any forward-looking statements
are set forth in our 2018 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 should not by relied on
as representing our expectations or beliefs as of any time
subsequent to the time that this News Release is first issued, and
we do not undertake efforts to revise those forward-looking
statements to reflect events after that time
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
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Marc Hazelton+1 617 662
1860MHAZELTON@StateStreet.com@StateStreet
Ilene Fiszel Bieler+1 617 664
4122IFiszelBieler@StateStreet.com@StateStreet
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