State Street : named among 50 exemplary companies for women’s leadership in APEC report

Hong Kong - State Street Corporation (NYSE: STT) has been recognised as one of the 50 leading companies for women in the Asia-Pacific Economic Cooperation (APEC) regional grouping and endorsed in the APEC Policy Partnership on Women and the Economy (PPWE) report.

Wai-Kwong Seck, head of State Street's Asia Pacific Global Services and Global Markets businesses, said, "State Street has clearly defined diversity goals, and we are delighted to be recognised for positive action towards helping our female employees achieve their full potential in their careers."

The assessment criteria for the survey, "50 Leading Companies for Women in APEC", included evaluating State Street's commitment to initiatives that support increased diversity, specific areas of focus it implemented for increasing opportunities for women and examining the tangible outcomes of these efforts. The report will be used at an APEC forum highlighting some of the best corporate practices across Asia Pacific for promoting women's leadership.

Alison A. Quirk, executive vice president and chief human resources and citizenship officer at State Street, noted that, "This recognition is a testament to our company's long-standing commitment to actively pursuing diversity and equal opportunity for women in the workplace." In 1999, the firm began a formal commitment to diversity with the establishment of an official diversity office, and in 2009 established a formal Global Inclusion / Diversity Centre of Expertise to further support gender diversity in the workforce.

Women make up nearly half of the workforce at State Street, and the firm views engaging them at all stages of their careers as key to its success. At present, women represent a quarter (25 percent) of total executive staff globally and more than a third (35 percent) of total executive staff in Asia Pacific.

To encourage development of women leaders, State Street introduced initiatives to strengthen the pipeline of female talent including a "Pay IT Forward Mentoring Program", where senior managers are engaged in mentoring female vice presidents and a "Sponsorship Program" supported by male champions who focus on supporting the career progression of female senior vice presidents and vice presidents. The company has also implemented a comprehensive flexible work programme, which helps retain female talent with various personal and family demands who might otherwise need to leave the workforce.

State Street has been acknowledged by international and other regional organisations as an employer of choice for women. In Australia, State Street was named as an "Employer of Choice for Women" by the Equal Opportunity for Women's Agency for four consecutive years from 2009 to 2012. In the United States, the company has received recognition by placement on the "Working Mothers' Best 100" for North America, which is one of the most significant recognitions for companies that provide family-friendly benefits and flexible cultures.

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.