State Street Commits to Management Leadership for Tomorrow’s Hispanic Equity at Work Certification Program
September 15 2022 - 10:57AM
Business Wire
Program provides a clear standard and roadmap for achieving
Hispanic equity in the workplace and contributing to Hispanic
equity in society; furthers State Street’s 10 Actions to Address
Racism and Inequality
State Street Corporation (NYSE: STT) today announced its
commitment as an inaugural employer pursuing the Management
Leadership for Tomorrow (MLT) Hispanic Equity at Work
Certification. This first-of-its kind certification sets clear,
measurable standards for achieving Hispanic equity internally and
for contributing to Hispanic equity in society. This commitment
further builds on State Street’s launch partnership and
participation in the Management Leadership for Tomorrow's Black
Equity at Work Certification.
Through the MLT Hispanic Equity at Work Certification, employers
develop a rigorous plan and measurably promote five core areas
including: Hispanic representation at every level; an inclusive,
anti-racist work environment; compensation equity; racially-just
business practices; and racial justice contributions and
investments. This Certification will provide State Street with a
guide to evaluate equity in the workplace with the same rigor as
financial reporting or other core business initiatives.
In July 2020, State Street announced 10 Actions to combat racism
and inequality through measurable tenets that are part of the
company’s global plan to become a leader in promoting greater
equity in the industry and local communities. The 10 Actions aim to
triple Black and Latinx senior leadership and double the percentage
of those populations at all levels of the organization by
addressing development and advancement programs, governance models,
community outreach and philanthropy. In addition, the 10 Actions
look to strengthen supplier diversity programs and seek to improve
diversity in the company’s board of directors.
“Although we are seeing progress made in addressing racial
inequities across financial services, there is still much more work
ahead. We continue to make meaningful progress through State
Street’s 10 Actions to Address Racism and Inequality with the goal
of promoting racial equity in our company, our industry, and our
society,” said Eric Aboaf, vice chairman and chief financial
officer of State Street. “Our partnership with MLT on the Hispanic
Equity at Work Certification will further our commitment to
transparency, accountability, and action as we continue our journey
to advance inclusion and diversity.”
“We are proud to be an inaugural participant in MLT’s Hispanic
Equity at Work Certification, which is the perfect complement to
our work to be an industry leader in addressing racism and
inequality. MLT is once again providing State Street, and other
leading organizations, an important roadmap to help build a more
resilient and equitable future,” said Paul Francisco, chief
diversity officer for State Street.
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 $38.2 trillion in assets
under custody and/or administration and $3.5 trillion* in assets
under management as of June 30, 2022, State Street operates
globally in more than 100 geographic markets and employs
approximately 40,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of June 30, 2022 includes
approximately $66 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.
© 2022 State Street Corporation - All Rights Reserved
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Media Contact: Ed Patterson epatterson@statestreet.com +1
404 213 3106
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