State Street to Appoint Eric Aboaf as Chief Financial Officer

State Street Corporation (NYSE: STT) announced today that Eric Aboaf will join State Street in December 2016 as executive vice president and a member of its Management Committee, the company’s senior-most policy-making and strategy group. Aboaf, age 52, will succeed Mike Bell as chief financial officer in March 2017. Mr. Bell’s departure was previously announced in March 2016. Aboaf will report to Jay Hooley, State Street’s chairman and chief executive officer.

Aboaf joins State Street from Citizens Financial Group where he was CFO with responsibility for all finance functions, including treasury, investor relations and corporate development where he spearheaded balance sheet optimization and expense efficiency. Prior to this role he was with Citigroup for 12 years, most recently as global treasurer managing the company’s balance sheet, maintaining strong liquidity levels, improving net interest margin and optimizing the company’s capital structure to conform with the new regulatory environment. Prior to that, he was CFO of Citigroup’s institutional client group, which includes their custodial services business.

“Eric has a dozen years of experience working within a global financial institution and has a strong understanding of the regulatory landscape,” said Hooley. “His wide range of finance, capital markets and expense efficiency expertise will further strengthen our finance organization and support our goal of delivering value to our shareholders.”

As CFO at State Street Aboaf will be responsible for the company’s global financial strategy and finance functions, including treasury, accounting, tax and reporting and investor relations.

Aboaf currently serves as a Board member at the New York City Urban Debate League and the New York Council for the Humanities.

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 $27.78 trillion in assets under custody and administration and $2.3 trillion* in assets under management as of June 30, 2016, 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 website at www.statestreet.com.

*Assets under management were $2.30 trillion as of June 30, 2016. AUM reflects approx. $40 billion (as of June 30, 2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.

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