State Street : Appoints Head of Alternative Investment Solutions for Asia Pacific Region

HONG KONG - State Street Corporation (NYSE: STT) today announced the appointment of Bob Keogh as head of Alternative Investment Solutions (AIS) for the Asia Pacific region.

Based in Hong Kong, Bob will assume responsibility for the hedge fund, private equity and real estate businesses in Asia Pacific. He has more than two decades of experience in financial services, the last 14 of which have been in the hedge fund industry. He was previously senior managing director for State Street's hedge fund servicing business based in Europe. Bob joined State Street in 2012 from Goldman Sachs as part of State Street's acquisition of Goldman Sachs Administration Services (GSAS). Prior to this role, he was head of the GSAS business in Europe and Asia where he established offices in Ireland, Hong Kong and Singapore.

Bhagesh Malde, senior managing director for State Street's Alternative Investment Solutions business said, "Asia is one of the most significant growth areas for our alternative servicing business. With Bob's broad experience and expertise, we can deliver a best-in-class operational capability both for our clients in Asia Pacific as well as global alternatives managers that benefit from a regional follow-the-sun capability that includes processing and servicing solutions."

Malde added, "State Street's recent global research shows that more capital has been flowing into alternative assets and this looks set to continue. As the alternative fund management industry continues to grow in both size and complexity, institutional investors are becoming more sophisticated and demanding and are allocating more assets to private equity, real estate and hedge funds to diversify portfolios, reduce volatility and construct portfolios that match their longer-term investment objectives.1 Bob will play an integral role in our commitment to meet the region's growing alternative investment servicing demand."

State Street is the world's leading alternative investment service provider with US$1,291 billion in assets under administration (as of June 30, 2014). State Street offers a complete suite of fund administration and risk services for hedge, private equity, real estate and offshore funds, supporting some of the most sophisticated alternative asset managers in the world. State Street established a presence in Asia Pacific as an alternative funds service provider when it acquired Mourant International Finance Administration (MIFA) in 2010, with locations in Hong Kong and Singapore. In Asia Pacific, State Street currently offers real estate, hedge fund and private equity servicing in mainland China, Hong Kong, Singapore, Tokyo, and Australia.

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 $28.4 trillion in assets under custody and administration and $2.48 trillion* in assets under management as of June 30, 2014, 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 web site at www.statestreet.com.

* Assets under management include the assets of the SPDR® Gold ETF (approximately $33 billion as of June 30, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.

1 Source: State Street 2013 Alternative Fund Manager Survey conducted by Prequin

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