STATE STREET CORPORATION State Street Corporation (NYSE:STT), announced today the appointment of Jane Kirkland to senior vice president in its investment servicing business. Kirkland will lead teams dedicated to specialized asset manager servicing, reporting to Gunjan Kedia, executive vice president and head of State Street’s US Investment Services business.
Specialized asset managers are growing rapidly1 and Kirkland will lead efforts to enhance solutions for this market segment that in the US represents more than $1.5 trillion in assets under management.2 Kirkland joins State Street from her own consulting practice focused on private equity firms, financial institutions and corporate clients. Previously, she was a partner at McKinsey and Company and served as director of knowledge management.
“In our recent survey of asset managers, 43 percent of North American specialized managers cited the development of new products in their existing markets as their greatest growth opportunity over the next three years3,” said Kedia. “Now more than ever, specialized asset managers will need an outsourcing partner with extensive expertise, tailored solutions and a comprehensive technology infrastructure to capture that growth potential. Jane’s expertise will help us as we develop new solutions to support the unique needs of this client segment and help them remain competitive in a rapidly evolving market environment.”
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 $28.47 trillion in assets under custody and administration and $2.42 trillion* in assets under management as of September 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 $30 billion as of September 30, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.
1 ICI Mutual Fund Complex Asset Reports, 2011-2014
2 ICI data as of August 31, 2014
3 State Street commissioned the FT Remark to conduct a global survey of 300 senior executives at asset management firms globally during April and May 2014, to examine the future outlook for the sector. Of those respondents, 60 percent were specialized asset managers.
CORP-1136
