State Street Announces Partnerships with MIT’s Antionette Schoar, Harvard’s Robin Greenwood to Advance Cryptocurrency and Macroeconomic Research Initiatives
November 17 2021 - 8:30AM
Business Wire
Professors Join State Street Associates, State Street’s Hub for
Academic Partnerships and Data Science
State Street Corporation (NYSE: STT) announced today that it
expanded its academic partnerships with the addition of two
esteemed professors from top Boston-based business schools. State
Street Associates® (SSA), the academic and data science research
arm of State Street, will partner with Antoinette Schoar, a finance
professor at MIT, who joins in an effort to see clients through
risks and opportunities in the blockchain and cryptocurrencies
space. Robin Greenwood, a finance and banking professor at Harvard
Business School, also joins to advance research on a range of
topics, including central bank policy, equity investing, financial
crises and behavioral finance.
“Our clients continue to watch the cryptocurrency space closely
and are increasingly thinking of it as an asset class. Professor
Schoar has emerged as a thought leader whose rigorous research is
trusted by academics and professional investors alike,” said Will
Kinlaw, head of Research for State Street’s Global Markets arm,
which includes State Street Associates. “We are also pleased to
partner with Professor Greenwood, who brings deep expertise on a
range of investment topics of interest to our clients, such as
central bank policy and equity investing. We are delighted to have
both on board and are confident that their insights will help our
clients better manage risk and capitalize on market
opportunities.”
As the Stewart C. Myers-Horn Family Professor of Finance at the
MIT Sloan School of Management, Antoinette Schoar is an expert in
corporate finance, organizational economics and entrepreneurship.
Her current research focuses on the topics of consumer and
entrepreneurial finance, and how new financial technologies are
impacting those areas. In addition to the work she will be doing
with clients in the blockchain and cryptocurrencies space, Schoar
will help apply research findings directly with State Street
Digital.
Launched in June of this year, State Street Digital was created
to address the industry’s evolving shift to digital finance. The
new division builds on State Street’s prior digital capabilities
and now includes crypto, central bank digital currency, blockchain
and tokenization. State Street’s GlobalLink technology platform is
also a component of State Street Digital.
Additionally, Schoar sits as the co-chair and co-director of the
NBER Corporate Finance group and is the co-founder of ideas42, a
non-profit that uses insights from behavioral economics and
psychology to solve social problems. She has also been named one of
the top 10 academics influencing the institutional investment
industry by aiCIO magazine. Schoar has her Ph.D. in economics from
the University of Chicago and a diploma in economics from the
University of Cologne, Germany. Schoar is scheduled to speak at
State Street Live on November 17 with a replay available afterwards
on the firm’s research platform, State Street Insights.
“Cryptocurrencies have become rapidly popularized,” commented
Dr. Schoar. “This is an opaque market where opportunities are not
obvious and risks are not well understood. At the same time,
blockchain has the potential to provide new opportunities and
applications for financial markets. I am excited to be
collaborating with State Street and its clients as they devise
strategies to navigate these important trends.”
Robin Greenwood, Senior Associate Dean for Faculty Development
and Research at Harvard Business School, is also the George Gund
Professor of Finance and Banking, the Anne and James F. Rothenberg
Faculty Fellow, as well as the faculty director of the Behavioral
Finance and Financial Stability project at Harvard Business School.
Greenwood’s current research takes a particular focus on
"macro-level" market inefficiencies such as asset price bubbles and
measuring market frothiness.
In addition, Greenwood is a member of the Financial Advisory
Roundtable of the Federal Reserve Bank of New York and a Research
Associate at the National Bureau of Economic Research. Prior to his
current roles, Greenwood was the chair of the Business Economics
Ph.D. program and Finance Unit Head from 2018 to 2021. Greenwood
received a Ph.D. in economics from Harvard and B.S. degrees in
economics and mathematics from MIT.
“State Street has a track record of engagement with the academic
community to advance research into real-world challenges,” added
Robin Greenwood. “I look forward to working with the team at State
Street Associates and to engaging with State Street’s clients to
achieve better outcomes.”
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 $43.3 trillion in assets
under custody and/or administration and $3.9 trillion* in assets
under management as of September 30, 2021, 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 September 30, 2021 includes
approximately $60 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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Media Contact: Brendan Paul Bpaul2@statestreet.com +1
401-644-9182
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