BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) announced today that it has promoted Maria Luce to managing director and division head for the endowment, foundation and healthcare business within State Street’s Institutional Investor Services business. Luce joined State Street in 1996 and brings a wealth of client relationship and institutional experience to the team.
“Endowments and foundations are at the forefront of innovation in the investment industry as they are increasingly broadening their portfolios and expanding into new asset classes,” said Stephen Nazzaro, executive vice president and head of the asset owner division within State Street’s Institutional Investor Services team. “Maria is a true leader with a strong track record. We are thrilled to have her heading our endowment and foundation group.”
A State Street-commissioned study of nearly 200 endowment and foundation funds revealed more than half of funds expect to ramp up their risk appetite over the next three years, and that alternatives are becoming an even more important factor in their investment strategy with 38 percent expecting to increase their allocation to infrastructure. The complete report can be found here.
In April 2016, Luce will host State Street’s Endowments & Foundations Forum. The annual event draws top executives from leading endowment, foundation, and healthcare organizations, and provides an opportunity for networking and idea exchange with peers and State Street executives. This year’s event, taking place in Boston on April 12, will feature discussions of top trends for the nonprofit investment community, from managing data and investment risk to regulatory standards and emerging technologies.
State Street supports both direct and indirect structures and currently services five of the top 10 nonprofits in the US.
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 $28 trillion in
assets under custody and administration and $2 trillion* in assets under
management as of December 31, 2015, State Street operates in more than
100 geographic markets worldwide, including the US, Canada, Europe, the
Middle East and Asia. For more information, visit State Street’s website
at www.statestreet.com.
* Assets under management include approximately $22 billion as of December 31, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.
About The Research
On behalf of State Street, the Economist
Intelligence Unit conducted a global survey of institutional asset
owners during July and August of 2014. The survey garnered 170 responses
from endowment and foundation executives globally, spanning public and
private institutions.
CORP-1870
Expiration date: 03/31/2017