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State Street Commits to Black Equity at Work Certification Program and Work Towards Organizational Equality

02/17/2021

Led by the Management Leadership for Tomorrow (MLT), the certification program aims to address inequities denying equal opportunity to Black professionals in corporate America

BOSTON, February 17, 2021 - State Street Corporation (NYSE: STT) today announced the company’s support and participation in the Management Leadership for Tomorrow's (MLT) Black Equity at Work Certification, a results-driven certification program addressing the persistent inequities faced by Black professionals across corporate America. The Certification provides a roadmap to enable employers to take a systematic, results-oriented approach to Black equity in the workplace. 

Joining other leading companies pursing certification, State Street recognizes the societal challenges and inequities facing Black Americans in wealth, income, health outcomes and more. By partnering with MLT on the Black Equity at Work Certification, State Street is taking a critical step to promote measurable, sustained progress with each of the certification’s five core pillars of focus:

Black representation at every level of the organization
Compensation equity
Inclusive, anti-racist work environment
Racially just business practices
Racial justice contributions and investments

“Racial inequities in our society have been left unaddressed for too long. State Street’s 10 Actions to Address Racism and Inequality are aimed at promoting racial equity in our company, our industry, and our society,” said Ron O’Hanley, State Street Chairman and CEO. “Our commitment to transparency, accountability, and action will remain paramount in this important work, and we look forward to partnering with MLT and the Black Equity at Work Certification to help us advance our inclusion and diversity goals.” 

As an MLT Black Equity at Work Certified employer, State Street will be committing to the certification’s five pillars, all of which align with the company’s 10 Actions to address racism and inequality in the workplace and our communities. The certification establishes a clear and comprehensive Black equity standard for employers and provides the roadmap and recognition necessary to enable and encourage employers to pursue Black equity with the same rigor and results orientation as their pursuit of earnings and other key priorities. 

“State Street’s participation in MLT’s Black Equity Certification is the perfect complement to our own priorities to be a leader in addressing racism and inequality within our industry and in the markets we serve. As we continue to make progress against our 10 Actions, MLT is providing State Street, and many others pursing certification, a workplan for us to collectively build a more resilient and equitable future,” said Paul Francisco, chief diversity officer for State Street.


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 $38.8 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of December 31, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
* Assets under management as of December 31, 2020 includes approximately $75 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

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Media Contact:
Ed Patterson
EPatterson@StateStreet.com 
+1 404 213 3106

 

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