State Street Achieves MLT Black Equity at Work Bronze Certification
January 12 2023 - 12:30PM
Business Wire
Led by Management Leadership for Tomorrow (MLT), the Black
Equity at Work Certification is a first-of-its-kind, clear standard
and roadmap for employers committed to a systematic,
results-oriented approach to Black equity in the workplace.
State Street Corporation (NYSE: STT) announced today that the
company has achieved Management Leadership for Tomorrow’s (MLT)
Black Equity at Work Bronze Certification. With this designation,
State Street becomes the first Global Systemically Important
Financial Institution (GSIFI) to earn this designation.
“We are pleased and honored to be recognized with MLT’s Black
Equity at Work Bronze Certification, as one of eleven companies so
far to achieve this noteworthy distinction,” said Paul Francisco,
chief diversity officer at State Street. “When State Street began
working with MLT in 2021, we created an action plan to further our
goal of promoting equity in our workplace, industry, and
communities. While we are very proud of the recognition provided by
this certification, we will continue to prioritize some of our
equity initiatives in the years ahead.”
Since announcing its commitment to MLT’s Black Equity at Work
Certification Program, State Street has embraced the
Certification’s focus on rigorous action with accountability,
development, and implementation of a comprehensive Black equity
plan, which focuses on five core MLT Black Equity at Work
pillars:
- Representation
- Compensation
- Workplace Culture
- Business Practices
- Contributions and Investments
Each of the pillars are centrally aligned with State Street’s 10
Actions to Address Racism and Inequality and are part of the
company’s global plan to become a leader in promoting greater
equity in the industry and local communities.
"The Black Equity at Work Certification requires employers to
apply the same level of rigor to racial equity that they apply to
every other part of their business. I applaud State Street for
making progress on their DEI journey by reaching this major
milestone," said John Rice, CEO and Founder of Management
Leadership for Tomorrow.
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 $35.7 trillion in assets
under custody and/or administration and $3.3 trillion* in assets
under management as of September 30, 2022, State Street operates
globally in more than 100 geographic markets and employs
approximately 41,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2022 includes
approximately $55 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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version on businesswire.com: https://www.businesswire.com/news/home/20230112005489/en/
Media Contact:
Ed Patterson Epatterson@statestreet.com +1 404.213.3106
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