State Street Elects Julio Portalatin and John Rhea to Its Board of Directors
March 05 2021 - 12:25PM
Business Wire
State Street Corporation (NYSE:STT) today announced the election
of Julio Portalatin and John Rhea to its Board of Directors,
effective immediately.
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the full release here:
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Julio Portalatin (Photo: Business
Wire)
Mr. Portalatin, age 61, was previously president and chief
executive officer of Mercer, an entity redefining the world of
work, reshaping pension investment outcomes and unlocking health
and wellbeing solutions. He oversaw the company’s strong growth in
client financial security offerings, including the creation of
web-enabled marketplace solutions. He also served as vice chairman
at Marsh & McLennan Companies with responsibility for strategic
client relationships, business development and leading efforts at
the World Economic Forum.
Before joining Mercer in 2012, Mr. Portalatin spent nearly two
decades at American International Group (AIG), including serving as
president and chief executive officer of AIG Growth Economies. In
this capacity, he was responsible for leading the company’s
expansion into the largest growth economies, including strategic
business expansion in Asia Pacific, Latin America, South Asia,
Middle East, Africa and Central Europe. Mr. Portalatin is a former
director of DXC Technology, an NYSE-listed information technology
company and actively supports several nonprofit organizations. He
currently serves on the board of directors of AARP and Covenant
House International, as well as a member of the board of trustees
of Hofstra University.
Mr. Rhea, age 55, is currently a partner at Centerview Partners,
a leading independent investment banking advisory firm. He is also
the founder and managing partner at RHEAL Capital Management, a
real estate development and investment firm specializing in
affordable and market rate housing, public private partnerships,
and acquisition and repositioning of commercial real estate in
urban communities. Prior to Centerview, Mr. Rhea was senior advisor
and president of Corporate Finance and Capital Markets at Siebert
Williams Shank, where he orchestrated Siebert’s involvement in
marquee IPOs, noteworthy advisory assignments, and debt and equity
transactions for leading Fortune 500 companies. Additionally, he
engineered the merger of complementary predecessor firms to create
the nation’s number one minority-owned investment bank.
Mr. Rhea was also previously a senior advisor to the Boston
Consulting Group and chairman and chief executive officer for New
York Housing Authority (NYCHA), the largest public housing
authority in North America. Earlier in his career, he was a
managing director at global financial services firms Barclays
Capital and JPMorgan Chase & Co. Mr. Rhea currently serves on
the board of directors of Invitation Homes, an NYSE-listed single
family rental housing REIT, where he chairs the Compensation and
Management Development Committee and is a member of the Nominating
& Corporate Governance Committee. Mr. Rhea has a long
commitment to non-profit service and is a director of Red Cross
Greater New York and a trustee of Wesleyan University.
“We are pleased to welcome Julio and John to our Board,” said
Ron O’Hanley, chairman and chief executive officer of State Street
Corporation. “These leaders have a keen understanding of the
challenges and opportunities facing our global client base, as well
as a proven track record of delivering new and innovative solutions
for growth. They have provided strategic counsel across a range of
initiatives, and we look forward to the insights they will bring to
our Board.”
“We are delighted to welcome these two talented executives to
the Board and to having their leadership and expertise in important
areas for our business, including risk management, finance and
corporate strategy,” added Amelia Fawcett, independent lead
director of State Street Corporation. “Having a Board with a wide
diversity of backgrounds and experiences makes us stronger and more
successful.”
About State Street
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 $38.8 trillion in assets
under custody and/or administration and $3.5 trillion* in assets
under management as of December 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 December 31, 2020 includes
approximately $75 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.
© 2021 State Street Corporation - All Rights Reserved
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Ed Patterson epatterson@statestreet.com +1 404 213 3106
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