SSgA Announces Senior Appointments to Lead Its International Business
LONDON and SYDNEY -- 06/25/2008

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced two new senior appointments to its international business.  Bernard Reilly, senior managing director, overseeing the Asia Pacific (ex-Japan) region, will expand his role to also include Japan, and Greg Ehret, senior managing director, and head of European sales and distribution, has been named head of SSgA's business in Europe, the Middle East and South Africa.

Mark Lazberger, executive vice president and head of SSgA's international business, is returning to Australia to assume the role of CEO, Colonial First State Global Asset Management within the Commonwealth Bank of Australia group. 

Scott Powers, president and chief executive officer of SSgA said: "Our international business has experienced considerable growth over the past few years and continues to be a driving force behind our global leadership position.  While we will miss Mark, we are delighted for him to be taking on this exciting opportunity with one of our longstanding clients and we are fortunate to have such depth of talent in Bernard and Greg.  Both have played instrumental roles in driving new investment solutions, expanding distribution channels, and cultivating client relationships—all of which are vital to our continued growth."

Reilly is a 16-year veteran of SSgA who has held a variety of responsibilities across State Street including in operations, portfolio management and business development.  He also served as managing director of SSgA in Australia.  Reilly will relocate to Sydney later this year.

Ehret, a 15-year veteran of SSgA, was instrumental in building SSgA's industry leadership in exchange-traded funds and marketing SSgA's investment strategies to U.S. financial intermediaries. He also previously managed State Street's business activities in Bermuda. Ehret is based in London where he relocated in 2006 to head European sales and distribution.

State Street has set an objective to achieve 50 percent of its revenue from non-U.S. sources. In the past two years (2005-2007), SSgA's non-U.S. assets under management have increased by 50 percent, and today1 represent nearly half of SSgA's total assets under management.  The firm was recently named the top institutional asset manager in the world by Pensions & Investments magazine for the seventh consecutive year.

About State Street Global Advisors
State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $2 trillion in assets under management at March 31, 2008, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 27 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

1 Data as of year-end 2007

The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results.

This news release may contain forward-looking statements, as defined by federal securities laws, including statements about the financial outlook and business environment. Any such statements are based on current expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this news release, that could cause actual results to differ materially are set forth in State Street Corporation's 2007 annual report and subsequent SEC filings. They include risks and uncertainties relating to the pace at which State Street Corporation (“State Street”) adds new clients or at which existing clients use additional services, the value of global and regional financial markets, and the dynamics of the markets State Street serves. State Street encourages investors to review its annual report and SEC filings in conjunction with this announcement and prior to making any investment decision. The forward-looking statements contained in this news release speak only as of the date of release, June 25, 2008, and State Street does not undertake to revise those forward-looking statements to reflect events after the date of this release.

 
To Top