State Street Introduces New Stakeholder Report
Report seeks to amplify the Company’s purpose to help achieve better outcomes for the world’s investors and the people they serve
BOSTON–(BUSINESS WIRE)–State Street Corporation (NYSE:STT) today announced the release of its Stakeholder Report for 2019, entitled “Stronger Together,” which reviews the firm’s performance, growth and strategy over the last year. The report also describes State Street’s commitment to innovation, and overall resiliency as well as its emphasis on corporate responsibility, and how these factors have helped the company to support its clients during the COVID-19 crisis.
The Stakeholder Report includes perspectives from Chairman and Chief Executive Officer Ronald O’Hanley and business leaders on 2019 progress and future focus. The report also highlights State Street’s core initiatives around environmental, social and governance (ESG) principles, responsible investing, diversity and inclusion, and corporate citizenship around the world.
“At State Street, stronger together reflects our commitment to deliver sustainable and inclusive value to all of our stakeholders through long-term partnership and collaboration,” said Ron O’Hanley. “The current crisis underscores why clients are looking to us to take on more of their investment operations as an extension of their teams so they can focus on core investment management performance and operate effectively even during the most turbulent market conditions. Investors need our global scale and technology, operational resiliency as well as data and investment insights to help them grow and innovate. The transformation we launched in 2019 has enabled us to become a better provider for our stakeholders when they need it most during the COVID-19 crisis. This report showcases the changes we have made to deliver more effectively for our shareholders, our clients, our employees, the communities in which we live and work and the global capital markets that are critical to individuals and their families investing for a better future.”
Highlights from the report include:
State Street’s commitment to innovation via the development of State Street AlphaSM, its front-to-back investment servicing platform, and its use of emerging technologies for trading like machine learning, cognitive computing, artificial intelligence and robotics to convert data into insights.
State Street Global Advisors’ stewardship impact, which includes the more than 680 companies that have added a female director since the launch of its Fearless Girl board diversity campaign in 2017.
The progress State Street has made toward its 2025 environmental goals, which include 72% increase in recycling rate, 31% reduction in carbon footprint, and a 21% reduction in water usage.
- 83,000 hours provided by employees volunteering in support of more than 1,000 community organizations around the world and approximately $21 million in philanthropic support in grants made by the State Street Foundation.
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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 $31.86 trillion in assets under custody and/or administration and $2.69 trillion* in assets under management as of March 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 March 31, 2020 includes approximately $50 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated
1Statistics compiled using ETFGI’s ETF Monthly Insights as-of March 2020 and State Street’s internal research