Press release from Business Wire
State Street Chief Financial Officer to Retire in 2013
Tuesday, November 20, 2012
State Street Chief Financial Officer to Retire in 201317:19 EST Tuesday, November 20, 2012
BOSTON (Business Wire) -- State Street Corporation (NYSE:STT) announced today that Executive Vice
President and Chief Financial Officer, Edward J. Resch, 60, has informed
the company of his plan to retire in 2013, after more than a decade in
the role, following the appointment of his successor and an orderly
transition of the function.
“Ed has been our CFO during one of the most challenging times for our
industry,” said Jay Hooley, chairman, CEO and president of State Street.
“We are fortunate to have benefited from his unwavering dedication for
the past ten years and, particularly, for his leadership during the
recent critical period of the financial crisis. The timing of his
retirement will enable a thorough transition process to his successor.”
State Street will conduct a comprehensive internal and external search
for a new chief financial officer.
“I feel very fortunate to have worked as part of this management team
over the past decade,” said Edward J. Resch. “I look forward to being
actively involved in the leadership transition of the finance function.”
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 $23.4 trillion in assets under custody and administration
and $2.1 trillion in assets under management at September 30, 2012,
State Street operates in 29 countries and more than 100 geographic
markets. For more information, visit State Street's web site at www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust ($75.3 billion
as of September 30, 2012), for which State Street Global Markets, LLC,
an affiliate of State Street Global Advisors, serves as the marketing
agent.Forward-Looking Statements: This news release contains
forward-looking statements as defined by United States securities laws,
including statements relating to our goals and expectations regarding
our business, financial and capital condition, results of operations,
investment portfolio performance and strategies, the financial and
market outlook, governmental and regulatory initiatives and
developments, and the business environment. Forward-looking statements
are often, but not always, identified by such forward-looking
terminology as “plan,” “program,” “expect,” “look,” “believe,”
“anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” and
“goal,” or similar statements or variations of such terms. These
statements are not guarantees of future performance, are inherently
uncertain, are based on current assumptions that are difficult to
predict and involve a number of risks and uncertainties. Therefore,
actual outcomes and results may differ materially from what is expressed
in those statements, and those statements should not be relied upon as
representing our expectations or beliefs as of any date subsequent to
November 20, 2012.
Important factors that could cause actual results to differ materially
from those indicated by any forward-looking statements are set forth in
our 2011 Annual Report on Form 10-K and our subsequent SEC filings. We
encourage investors to read these filings, particularly the sections on
risk factors, for additional information with respect to any
forward-looking statements and prior to making any investment decision.
The forward-looking statements contained in this presentation speak only
as of the date hereof, November 20, 2012, and we do not undertake
efforts to revise those forward-looking statements to reflect events
after that date.
State Street CorporationHannah Grove, +1 617-664-3377orCarolyn
Cichon, +1 617-664-8672orInvestor Contact:Valerie
Haertel, +1 617-664-3477www.statestreet.com
