State Street Announces New Global Head of Private Markets

Industry Veteran Jesse Cole to lead firm’s private markets segment division

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced it has appointed Jesse Cole as global head of its Private Markets segment. In this role, Cole will be responsible for defining and executing State Street’s global strategy for Private Markets and will work closely with his peers in global sales and the product organization to manage and grow private markets business across all client segments. Cole is based out of Chicago, IL and will report to Paul Fleming, global head of State Street's Global Alternatives Segment.

“I’m very pleased to welcome Jesse to State Street. He’s a seasoned leader who joins us at an optimal time to provide important leadership to our private markets team,” said Fleming. “Investment in private markets is growing significantly across all our segments as investors continue to reach for yield in a low-rate, low-growth environment, and our clients continue to ask for more private market products. With Jesse’s appointment, we are confident we have the right team in place to ensure we are meeting the multifaceted needs of our clients and be able to provide them with more solutions.”

Cole brings to State Street more than 30 years’ of experience in private markets, including running global client service businesses, with expertise in building high performing teams, developing and executing strategic transformation initiatives in support of client objectives, and is recognized as an innovator in developing forward-thinking products to drive growth. Prior to joining State Street, Jesse served as Managing Director, Global Shareholder and Fund Services with Goldman Sachs. He also held operational roles at Invesco and Northern Trust.

In 2021, State Street announced that it has entered into an agreement to acquire Mercatus, Inc., a premier front-and-middle-office solutions and data management provider for private market managers. In connection with the acquisition, the company launched its State Street Alpha^SM for Private Markets solution which allows institutional investors to fully manage the entire lifecycle of their infrastructure, private equity, real estate, private debt and fund of funds investments through a fully integrated, digital front-to-back, single platform.

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 $43.7 trillion in assets under custody and/or administration and $4.1 trillion* in assets under management as of December 31, 2021, 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 December 31, 2021 includes approximately $61 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.

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