20-Year State Street Veteran Returns to Canada
TORONTO, September 4 /CNW/ - State Street Corporation (NYSE: STT), the
world's leading provider of financial services to institutional investors,
announced today the appointment of State Street veteran Stephen Smit to
President, State Street Trust Company Canada, and head of investment servicing
and investment research and trading in Canada. In this role, Smit will assume
responsibility for State Street's investor services and global markets
businesses in Canada. Smit served as managing director of State Street Global
Markets in Canada from 1995 to 2000.
Smit will be responsible for the development and execution of key
strategies for the investor services and global markets businesses in Canada.
He will also be responsible for customer management and regulatory matters.
Smit will lead the Canadian management team of John Folk and Ron Robertson,
managing directors of Investor Services in Canada; Kevin Drynan, head of Sales
and Relationship Management; Don D'Eramo, head of Securities Finance; and John
Walks, head of State Street Global Markets.
"Steve has been a valuable asset in helping to advance State Street's
businesses in three continents," said Joe Antonellis, vice chairman of State
Street Corporation. "We see great opportunity for continued growth in Canada
and Steve's leadership will ensure we continue to capitalize on market
Smit, a 20-year veteran of State Street, joined the company in 1987 with
responsibility for State Street's international treasury services including
foreign exchange, multicurrency short-term investments and risk advisory
services. After serving as head of Global Markets in Canada, Smit went to
London as managing director for State Street Global Markets' Global Link
business there with responsibility for the corporation's e-finance strategy
for Europe, the Middle East and Africa. Before assuming his current recent
role in Boston as head of State Street Associates, the company's research
partnership with academia and industry experts, Smit was general manager of
State Street Bank & Trust Company's Tokyo branch.
"I am excited to return to Canada where we see tremendous opportunity to
further grow our business," added Smit. "Having expanded our presence in
Canada with the closing of the Investors Financial Services Corp. acquisition
in July, we look forward to continuing our strong record of providing
customers with the most comprehensive services in the industry."
Smit received his Masters of Business Administration degree from the
Boston College Graduate School of Management and a Bachelor of Science
(economics) degree from the London School of Economics.
State Street has provided solutions to Canada's financial services
community for more than two decades, and first established a presence in
Toronto in 1990. With the closing of the Investors Financial Services Corp.
acquisition, State Street further strengthens its presence in the Canadian
market and now has more than 1200 employees in Toronto, Montreal and
State Street Corporation (NYSE: STT) is the world's leading provider of
financial services to institutional investors, including investment servicing,
investment management, and investment research and trading. With US$13.0
trillion in assets under custody (or US$14.97 trillion on a pro forma basis,
including the Investors Financial custody assets) and $1.9 trillion in assets
under management at June 30, 2007, State Street operates in 26 countries and
more than 100 geographic markets worldwide. For more information, visit State
Street's website at www.statestreet.com.
For further information:
For further information: State Street Corporation Steve Maguire, +1