HONG KONG--(BUSINESS WIRE)--State Street Corporation, (State Street), NYSE:STT today announced that it has appointed Francisco Aristeguieta to chief executive officer for its international business. Aristeguieta, who joins the company in July, will report to State Street president and CEO, Ron O’Hanley and become a member of the Company’s Management Committee, its senior-most strategy and policy making group.
Aristeguieta, age 53, joins State Street from Citigroup where he most recently served as CEO of its Asia business, overseeing 60,000 people and a third of the company’s earnings. Prior to that role he served as head of Citigroup’s business in Latin America and before that led its Transaction Services Group in Latin America encompassing securities servicing, trade and cash management, and was vice chairman for Banco de Chile. His many non-profit and industry group board appointments include The Asia Society, Junior Achievement Americas, and The American Chambers of Commerce of Latin America.
“We are delighted to welcome Francisco to State Street,” said Ron O’Hanley. “His deep experience and proven leadership qualities will advance our strategy and growth objectives on behalf of our clients and shareholders, and augment our already strong local management teams outside of the US. This leadership appointment also supports our goal to make State Street a more nimble and effective organization for our clients.”
State Street has a strong presence in Europe, the Asia Pacific region and the Middle East serving asset managers, asset owners, official institutions, central banks, insurance companies and financial intermediaries. Today, the Company derives more than 40 percent of its revenues from outside the US, providing solutions for clients in 28 countries and more than 100 markets with about 25,000 employees. The drivers of client demand for global support include the rapid development of retirement schemes, the growth of collective investment vehicles, as well as favorable demographic trends.
Initially based in Hong Kong, Aristeguieta will be responsible for all of State Street’s business activities outside of the US including driving strategy, stewarding client engagement, developing talent, pursuing growth opportunities and increasing market share as well as deepening relationships with local government officials and regulators. He will work in partnership with State Street’s global business leaders to deliver solutions, expertise and insights to clients globally.
“I am excited to be joining State Street, a leader in its industry and a company that I admire,” said Francisco Aristeguieta. “I believe there are tremendous opportunities ahead given State Street’s scale and global footprint, and the innovation and talent it is bringing to the industry. I look forward to building on these advantages and further expanding the Company’s international reach, top-line growth and contribution to results.”
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 $31.62 trillion in assets under custody and administration and $2.51 trillion* in assets under management as of December 31, 2018, 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.
*This figure is presented as of December 31, 2018 and includes approximately $32.44 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about roles, responsibilities and potential of State Street’s recently appointed chief executive officer for its international business and the drivers of and growth prospects for that business. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “will,” “expect,” “believe,” “look forward,” "priority," “objective,” “plan,” “strategy,” “anticipate,” “intend,” “estimate,” “seek,” “may,” “trend,” 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 time subsequent to the time that this News Release is first issued. Important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2018 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 News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time that this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time
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