State Street Introduces New Stakeholder Report
May 20 2020 - 9:00AM
Business Wire
Report seeks to amplify the Company’s purpose to help achieve
better outcomes for the world’s investors and the people they
serve
State Street Corporation (NYSE:STT) today announced the release
of its Stakeholder Report for 2019, entitled “Stronger Together,”
which reviews the firm’s performance, growth and strategy over the
last year. The report also describes State Street’s commitment to
innovation, and overall resiliency as well as its emphasis on
corporate responsibility, and how these factors have helped the
company to support its clients during the COVID-19 crisis.
The Stakeholder Report includes perspectives from Chairman and
Chief Executive Officer Ronald O’Hanley and business leaders on
2019 progress and future focus. The report also highlights State
Street’s core initiatives around environmental, social and
governance (ESG) principles, responsible investing, diversity and
inclusion, and corporate citizenship around the world.
“At State Street, stronger together reflects our commitment to
deliver sustainable and inclusive value to all of our stakeholders
through long-term partnership and collaboration,” said Ron
O’Hanley. “The current crisis underscores why clients are looking
to us to take on more of their investment operations as an
extension of their teams so they can focus on core investment
management performance and operate effectively even during the most
turbulent market conditions. Investors need our global scale and
technology, operational resiliency as well as data and investment
insights to help them grow and innovate. The transformation we
launched in 2019 has enabled us to become a better provider for our
stakeholders when they need it most during the COVID-19 crisis.
This report showcases the changes we have made to deliver more
effectively for our shareholders, our clients, our employees, the
communities in which we live and work and the global capital
markets that are critical to individuals and their families
investing for a better future.”
Highlights from the report include:
- State Street’s commitment to innovation via the development of
State Street AlphaSM, its front-to-back investment servicing
platform, and its use of emerging technologies for trading like
machine learning, cognitive computing, artificial intelligence and
robotics to convert data into insights.
- State Street Global Advisors’ stewardship impact, which
includes the more than 680 companies that have added a female
director since the launch of its Fearless Girl board diversity
campaign in 2017.
- The progress State Street has made toward its 2025
environmental goals, which include 72% increase in recycling rate,
31% reduction in carbon footprint, and a 21% reduction in water
usage.
- 83,000 hours provided by employees volunteering in support of
more than 1,000 community organizations around the world and
approximately $21 million in philanthropic support in grants made
by the State Street Foundation.
To view full details please click here.
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 $31.86 trillion in assets
under custody and/or administration and $2.69 trillion* in assets
under management as of March 31, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of March 31, 2020 includes
approximately $50 billion of assets with respect to which State
Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as
marketing agent; SSGA FD and State Street Global Advisors are
affiliated
1Statistics compiled using ETFGI’s ETF Monthly Insights as-of
March 2020 and State Street’s internal research
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Zarna Patel 617 756-2911 zpatel@statestreet.com
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