State Street Names James Phalen Vice Chairman
BOSTON -- February 24, 2014
State Street Corporation (NYSE:STT) announced today that it has named James
(Jim) Phalen to Vice Chairman, effective March 1, 2014.
A 21-year veteran of State Street, Phalen, age 63, has served as executive
vice president and head of Global Operations and Technology since 2010. As a
member of State Street’s Management Committee, the company’s senior-most
strategy and policy making group, Phalen is responsible for the firm’s
Business Operations and Information Technology program including innovation
and cloud computing initiatives. Previously, he led international for State
Street’s Global Services and Global Markets businesses. Phalen also held
several leadership positions within State Street’s asset management division.
“Jim has been instrumental in transforming and redefining our business
operations and technology infrastructure to help us to stay ahead of the
changes in the industry and deliver better solutions for our clients,” said
Joseph L. Hooley, chairman, president and chief executive officer at State
Street. “As technology continues to set the pace, it will be even more
important that we use IT to a full competitive advantage. This appointment
reflects the value of Jim’s insights and contributions to our future success.”
Phalen is a director of Boston Financial Data Services and the Boston Medical
Center. He holds a degree from Boston College and is a graduate of the Stonier
Graduate School of Banking. He also attended the Executive Development Program
at Massachusetts Institute of Technology’s Sloan School of Management.
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
$27.4 trillion in assets under custody and administration and $2.3 trillion in
assets under management* at December 31, 2013, State Street operates in more
than 100 geographic markets worldwide, including the U.S., Canada, Europe, the
Middle East and Asia. For more information, visit State Street’s web site at
* This AUM includes the assets of the SPDR Gold Trust (approx. $31 billion as
of December 31, 2013), for which State Street Global Markets, LLC, an
affiliate of State Street Global Advisors, serves as the marketing agent.
State Street Corporation
Carolyn Cichon, +1 617-664-8672
Press spacebar to pause and continue. Press esc to stop.