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MarketScreener Homepage  >  Equities  >  Nyse  >  State Street Corporation    STT

STATE STREET CORPORATION

(STT)
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State Street : Board of Directors Appoints Ron O'Hanley as Chairman

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12/23/2019 | 08:05am EST

As Previously Announced, Jay Hooley to Retire as Chairman on December 31, 2019

State Street Corporation (NYSE: STT) today announced that its board of directors has appointed Ronald P. (Ron) O’Hanley, State Street’s chief executive officer, as chairman, effective January 1, 2020, following Jay Hooley’s planned retirement. Mr. Hooley has served on the Board of Directors since 2009 and as Chairman of the Board since 2011. Amelia Fawcett will continue in her role as State Street’s independent lead director.

“We are pleased to name Ron as chairman,” said Amelia Fawcett. “Ron’s appointment represents the culmination of the leadership transition implemented by the board over the past several years. Since becoming CEO in January, Ron has brought tremendous energy and results-oriented management focused on creating shareholder value. On behalf of the Board of Directors, I want to thank Jay for his long and distinguished career at State Street and for guiding a successful leadership transition.”

Greg Summe, chair of State Street’s Nominating and Corporate Governance Committee, added “The board considered carefully the issue of governance. The board has a Lead Director role similar to an independent Chairman, overseeing board and committee agendas, attending all committee meetings and working closely with the CEO. Based on its experience, the board determined to continue with its current Lead Director/Chairman structure.”

Ron joined State Street in 2015 as president and chief executive officer of State Street Global Advisors, the Company’s investment management arm. He also served as State Street’s president and chief operating officer, beginning in 2017, prior to his appointment as chief executive officer.

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 $32.90 trillion in assets under custody and administration and $2.95 trillion* in assets under management as of September 30, 2019, 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 include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $44 billion as of September 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.

State Street Corporation

One Lincoln Street, Boston, MA 02111

© 2019 State Street Corporation - All Rights Reserved

2879818.1.1.GBL.RTL


© Business Wire 2019
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Financials (USD)
Sales 2020 11 853 M
EBIT 2020 3 047 M
Net income 2020 2 377 M
Debt 2020 13 245 M
Yield 2020 3,06%
P/E ratio 2020 10,5x
P/E ratio 2021 9,48x
EV / Sales2020 3,24x
EV / Sales2021 3,22x
Capitalization 25 105 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 89,05  $
Last Close Price 70,85  $
Spread / Highest target 41,1%
Spread / Average Target 25,7%
Spread / Lowest Target 8,68%
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Managers
NameTitle
Ronald Philip O'Hanley Chairman, President & Chief Executive Officer
Louis D. Maiuri Chief Operating Officer & Executive Vice President
Eric W. Aboaf Chief Financial Officer & Executive Vice President
Ali El Abboud Chief Technology Officer
Brian Franz Chief Information Officer & Executive VP
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