Mr. Ronald P. O'Hanley is a Chairman, President & Chief Executive Officer at State Street Corp., a Chairman & Chief Executive Officer at SSgA Funds Management, Inc., a President & Chief Executive Officer at State Street Global Advisors Inc., an Independent Director at Unum Group, a Chief Executive Officer at State Street Global Advisors, Inc., a President at Fidelity SelectCo LLC and a Public Administrator at Syracuse University. Responsible for executing the long-term strategy of the firm, overseeing its day-to-day operations, and managing its crew, the team is led by CEO Mortimer (Tim) Buckley and includes long-tenured, experienced senior executives. WebMr. Most recently, he was head of Retail Client Services and Operations. Lauren Valente is managing director of Vanguard's Human Resources division, which is responsible for talent, leadership, and culture. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the 'unsubscribe' section below. In addition to institutional products, SSGA has 46 ETF investment products in the US market,[25] as of March 2007. To obtain a prospectus or summary prospectus which contains this and other information, call 1-800-997-7327,download a prospectus or summary prospectusnow, or talk to your financial advisor. Ssga Funds Management is a hedge fund with 279 clients and discretionary assets under management (AUM) of $894,513,485,797 (Form ADV from 2022-11-28). Dr. Thomas joined Vanguards board in 2021. This document contains certain statements that may be deemed forward-looking statements. Webi These Proxy Voting and Engagement Guidelines (the Guidelines) are also applicable to SSGA Funds Management, Inc., State Street Global Advisors Trust Company, and other advisory affiliates of State Street controls and risk management systems, which should be governed by the board. He has served in a variety of senior leadership roles, including chief marketing officer for Retail and in the firm's Institutional division and Corporate Strategy department. Starting in 2024, we will 1) no longer use numerical limits to identify overcommitted directors, and instead 2) vote against the chair of the nominating and governance committee at companies in the S&P 500 that do not disclose their internal policy on director time commitments. One Lincoln Street. Yie-Hsin is President and Chief Executive Officer of State Street Global Advisors, the investment management arm of State Street Corporation with $3.62 trillion* in assets under management. The views expressed in this material are the views of Yie-Hsin Hung through the period ended March 17, 2023 and are subject to change based on market and other conditions. As such, in the year ahead we will be looking to the nominating and governance committees of portfolio companies to be responsible for establishing and enforcing, as well as disclosing, robust director time commitment policies. State Street Global Advisors, the asset management division of State Street Corporation, was founded in 1978[6] in Boston, Massachusetts. Chris McIsaac is managing director of Vanguard's International division, which provides investments to institutions, financial advisors, and individual clients in more than 80 countries around the world. The Sculpture of a Fearless Girl on Wall Street Is Fake Corporate Feminism. Matt joined Vanguard in 2008. And, as an industry participant and senior leader in the investment management industry for the past 25 years, I have always admired State Street Global Advisors value-driven stewardship efforts, and its pragmatic and consistent approach to promoting sound governance practices with the boards of companies in its clients investment portfolios. SSGA FD and State Street Global Advisors are affiliated. She joined Citigroup in 2014 as managing director and general counsel of global cards and consumer services. Disclosure related to each of the State Street Institutional Liquid Reserves Fund:You could lose money by investing in the Fund. Please note all AUM is unaudited. State Street Global Advisors Worldwide Entities, View More Information About Our Firm:FINRA's Brokercheck. The information contained in this communication is not a research recommendation or investment research and is classified as a Marketing Communication in accordance with the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation. The views expressed in this material are the views of Yie-Hsin Hung through the period ended March 17, 2023 and are subject to change based on market and other conditions.
Get to know the team. Joseph Brennan is managing director and Vanguard's global chief risk officer. President & Chief Executive Officer
Ms. Mulligan serves as a trustee of the Partnership for New York City, Chief Executives for Corporate Purpose, the New York Presbyterian Hospital, and the Bruce Museum; as a board member of the Economic Club of New York; as a director of DuPont; and as a member of the Advisory Council for the Stanford Graduate School of Business. Greg serves on the board of the Children's Hospital of Philadelphia and is a member of the Treasury Borrowing Advisory Committee of the U.S. Department of the Treasury. We have generally found that good disclosure reduces the tendency for shareholders to micromanage companies in which they invest. Vanguards senior management team is made up of eleven managing directors who are elected by the board of directors. At State Street, we promise to treat your data with respect and will not share your information with any third party. Not all products will be available to all investors. Ssga Funds Management, Inc. State Street Financial Center. SSGA has 26 Mutual Fund products divided by investment type:[26] money markets, bonds, equities, and diversified funds of funds (also known as life style funds). United States. in finance from Drexel University. President & Chief Executive Officer Yie-Hsin is President and Chief Executive Officer of State Street Global Advisors, the investment It should not be considered a solicitation to buy or an offer to sell a security. Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Global Advisors, Inc.. All rights reserved. in finance and an M.B.A. from Villanova University. Each year we have worked to evolve the way we engage with boards to understand how they are conducting their oversight and other governance responsibilities. SEC Filings include 13F quarterly reports, 13D/G events and more. You should consult your tax and financial advisor. You should consult your tax and financial advisor. SSGA is the number three ETF manager in the world after BlackRock and Vanguard.[12]. She is the former vice president of AppleCare at Apple and previously served as a senior vice president at Hewlett Packard. Anne earned a bachelor's degree in political science from Hampton University and a J.D. in information systems from Saint Joseph's University. Mr. Loughridge joined Vanguard's board of directors in 2012. Andr Perold isthe chief investment officer and partner of HighVista Strategies LLC. Nitin Tandon is chief information officer and managing director of Vanguards Information Technology division, overseeing all aspects of the companys use of technology to serve clients and manage investments. President & CEO, State Street Global Advisors, 1 e.g., Donangelo et al., Rouen et al., Edmans, 2 e.g., McKinsey, Bernile et al., BoardReady. Emerson Fullwood is executive in residence at the Rochester Institute of Technology, where he was the 20092010 Distinguished Minett Professor. He is on the Board of Directors at The Financial Services Forum, State Street Bank & Trust Co. (UK Branch), Unum Group, The Conference Board, Inc., Boston Public Library Foundation, Institute of Contemporary Art, IYRS School of Technology & Trades, Rhode Island Commerce Corp. (United States), The Boston Foundation, The EastWest Institute, WBUR Boston and Committee for Economic Development. Dmitri Stockton, Chairman, President and CEO of GEAM, said, SSGA is another outstanding investment firm with an expanded distribution network and $2.3 trillion in assets under management. During this time, he also served as vice chairman of Bank of New York Mellon Corporation and was a member of its Executive Committee. She is managing director of the Office of the General Counsel, which includes Government Relations, Legal, Compliance, and Investment Stewardship. The board is responsible for setting broad policies for the company; monitoring the companys financials, operations, compliance, risk management; and electing officers.5 Mark Loughridge serves as the lead independent director, and Vanguard CEO Mortimer (Tim) Buckley serves as chairman of the board. WebThe board is responsible for setting broad policies for the company; monitoring the companys financials, operations, compliance, risk management; and electing officers. In June 2020, he retired as chief investment officer and vice president of the University of Notre Dame, where he also served as an assistant professor of finance at the university's Mendoza College of Business; he remains a member of the Notre Dame 403(b) Investment Committee. In this capacity, the team drives our DEI vision, goals, and accountability across Vanguard and tracks our progress. to see more advanced email alert options such as selecting any type of The 'Fearless Girl' statue sums up what's wrong with feminism today. The Fund pays State Street Bank and Trust Company for its services as custodian, transfer agent and shareholder servicing agent and pays SSGA Funds Management, Inc., an affiliate of State Street Bank and Trust Company, for investment advisory services. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. Investing involves risk including the risk of loss of principal. John earned an M.B.A. from the University of Adelaide and holds certificates from both the Wharton Advanced Management Program at the University of Pennsylvania and the Advanced Human Resource Executive Program at the University of Michigan. Mr. Loughridge is the retired senior vice president and chief financial officer of IBM. Joseph Loughrey is the retired president and chief operating officer of Cummins Inc. and retired chairman of the board of Hillenbrand, Inc. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. In contrast, making subjective decisions to determine the caliber and time commitment of individual directors should be the job of well-governed boards themselves, not asset managers. Dear Board Member, Before that, he was based in London as the managing director of Vanguard's U.K. and European operations. The bronze statue installed by an advertising firm and a financial firm represents basically everything thats wrong with our society. SSGA employs 2,500 people in 28 countries around the world. As of March 2021, it had 142 exchange traded funds (ETFs) owned and controlled by the company. [5] State Street Global Advisors, the asset management division of State Street Corporation, was founded in 1978 [6] in Boston, Massachusetts . from Saint Joseph's University and an M.B.A. from Harvard Business School. SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors. Mr. O'Hanley was president of Asset Management & Corporate Services for Fidelity Investments. Nitin previously led Vanguards Retail and Corporate Systems within the Information Technology division. All material has been obtained from sources believed to be reliable. Ssga Funds Management, Inc controls $894.5 billion in assets throughout 249 customer accounts, making it one of the largest financial advisory firms in the nation He joined Vanguard in 1997. 4 Figures are as of February 28, 2023. 2Figure is as of February 28, 2023. [28], In 2008, State Street Bank was sued by Trust Co. for Fixed Income Funds Investment. State Street Global Advisors launched the first foreign real estate ETF in 2006 (Ticker: In January 2011, State Street Global Advisors completed its acquisition of Bank of Ireland Asset Management (BIAM). The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. She has served on the boards of Out & Equal, the University of California, Berkeley School of Engineering and Santa Clara University's Leavy School of Business. Ssga Funds Management is a alternative asset management company based in Boston, MA. John joined Vanguard in 2008 and has held leadership roles in the company's Financial Advisor Services division and overseen its Australian operations in Melbourne. Distributor:State Street Global Advisors Funds Distributors, LLC, memberFINRA,SIPC, an indirect wholly owned subsidiary of State Street Corporation. All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. Our unwavering attention to these issues has always been rooted in a combination of best practices, evidence-based research, pragmatism balanced with a long-term view, and sound governance. in economics from Harvard College and an M.B.A. from Harvard Business School. These include characteristics beyond those illustrated here. And just like The Vanguard Group, SSgA also operates globally. View Last Form Adv Compilation Report on Record, LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION, commodity pool operator or commodity trading advisor, STATE STREET GLOBAL ADVISORS IRELAND LIMITED, STATE STREET GLOBAL ADVISORS ASIA LIMITED, STANDISH MELLON ASSET MANAGEMENT COMPANY LLC, BNY MELLON INVESTMENT MANAGEMENT CAYMAN LTD, SENIOR VICE PRESIDENT, BUSINESS AND INVESTMENT OPERATIONS. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. State Street Global Advisors is among the signatories of the "Principles for a Responsible Civilian Firearms Industry," which seeks to engage firearms manufacturers, dealers, and retailers in promoting gun safety. Mortimer (Tim) Buckley is chairman of the board and chief executive officer of Vanguard. View More Information About Our Firm: FINRA's BrokerCheck. [29] The case was settled in 2010. David Thomas is president of Morehouse College and a trustee of Common Fund. The shareholders also demanded Brian Kelly, the chairman of the companys board of directors, and Robert Morgado, the companys lead independent director While shareholder proposals can be effective at raising awareness on certain issues and we will support them when both reasonable and likely to maximize long-term value for clients proposals are non-binding in most markets and often too prescriptive. Given the sheer number of views espoused and the vigorous debate about asset stewardship and in light of our recently expanded program offering more investors the power to direct how shares held in the funds they own are voted I want to share some of my observations on how State Street Global Advisors seeks long-term value, the increasing need for boards to assess and disclose value-related risks, and what it means for our relationship with directors like you going forward. Joe earned a B.A. It should not be considered a solicitation to buy or an offer to sell a security. Vanguards board includes 11 directors; 10 are independent directors with no affiliation with Vanguard or the Vanguard funds apart from any investments they may choose to make as individuals. Ms. Raskin is a member of the Regenerative Crisis Response Committee, partner in Kaya Corporatoin Ltd., and a member of the board of directors at Arcadia Corporation. Before that, she was chief operating officer and executive vice president of the company's individual life and disability division. Our leadership team is backed by more than 500 market cycle-tested investment professionals. Unfortunately, more than 1 in 5 companies in the S&P 500 provide limited transparency into how they manage their directors time commitment. He earned a B.A. Founded in 2001, SSgA Funds Management Inc is an investment firm that offers a wide variety of services, including portfolio management, investment advisory services, and financial planning. The SSGA Funds pay State Street Bank and Trust Company for its services and custodian, transfer agent and shareholder servicing agent and pays SSGA Funds Management, Inc. for investment advisory services. If you experience any issues with this process, please contact us for further assistance. Assets under management climbed to $161 billion (USD) in 1994 and more than quadrupled to $667 billion by 1999. Phone: 617 13F filing from SSGA FUNDS MANAGEMENT INC, enter your Thank you for your interest in the U.S. Securities and Exchange Commission. She earned an M.B.A. from Villanova University in 2009. By using this site, you are agreeing to security monitoring and auditing. A portfolio's ESG criteria may result in the portfolioinvesting in industry sectors or securities which underperform the market as awhole. Additionally, he was a member of the Worldwide Property & Casualty Insurance practice. Click the link to obtain aprospectus or summary prospectuswhich contains this and other information, or by calling 1.877.521.4083. Since our founding in 1975, weve put investors first. Mr. Malpass joined the Vanguard board in 2012. Ms. Raskin joined Vanguard's board in 2017. Global investment management division of State Street Corporation, Learn how and when to remove these template messages, Learn how and when to remove this template message, "State Street chief takes aim at the cost of servicing", "State Street Global Advisors ETF Overview", "State Street Global Advisors: Mend It, Don't End It", "ETF League Table As Of June 13, 2019 | ETF.com", "State Street subleasing chunk of namesake tower in Boston", "State Street Global Advisors Completes Acquisition of Bank of Ireland Asset Management", "State Street opens new state-of-the-art headquarters in the capital's docklands", "Funds managing $4.8 trillion press the firearm industry to accept new principles on gun safety", "$5 Trillion Investor Coalition to Pressure Gun Companies on Safety Measures", "Principles for a Responsible Civilian Firearms Industry", "The 'Fearless Girl' Statue Isn't a Symbol, It Is an Advertisement". We give you the access and tools to invest like a Wall Street money manager at a Main Street price. For more information, contact opendata@sec.gov. We believe that the risks and opportunities we identify are important for portfolio companies to manage and boards to oversee, and our clients expect us to encourage effective portfolio company disclosure of material information in those areas. Prior to her current role, she was managing director of Vanguard's Retail Investor Group. He is also a graduate of Harvard Business School's Advanced Management Program. This communication is directed at professional clients (this includes eligible counterparties as defined by the appropriate EU regulator who are deemed both knowledgeable and experienced in matters relating to investments. While values are important to all of us, in this context we focus exclusively on value: how to drive long-term portfolio value. WebInstitutional ownership Institutional investors hold a majority ownership of STT through the 92.15% of the outstanding shares that they control. Hedge Fund Our voting guidelines outline the scenarios in which we may vote against directors and/or chairs of relevant committees for governance failures (our voting record can be found here). The same individuals serve on the Vanguard board of directors and the funds' boards of trustees. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. All rights reserved. I look forward to continuing to work together with board directors like you in the years to come. We'll assume you're ok with this, but you can opt-out if you wish. email address below and choose 'Submit'. For example, this past year, after our team identified shortcomings in board oversight and governance at a large, diversified e-commerce company, we voted against the Compensation Committee Chair. Webin Fund Complex Overseen by Trustee Other Directorships Held by Trustee During Past 5 Years Independent Trustee William L. Marshall Born December 12, 1942 1301 Second Avenue, 18th Floor Seattle, WA 98101 Trustee since 1988 Chairman, Audit Committee Member, Governance Committee Member, Valuation Committee SSGA FUNDS Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come, Transcript : State Street Corporation, Q1 2023 Earnings Call, Apr 17, 2023, Transcript : State Street Corporation, Q4 2022 Earnings Call, Jan 20, 2023, State Street CEO Warns of Geopolitical Risk, State Street CEO says had no idea about leverage in LDI funds, Transcript : State Street Corporation Presents at Goldman Sachs 2022 US Financial Services Conference, Dec-07-2022 09:20 AM, Transcript : State Street Corporation, Q3 2022 Earnings Call, Oct 18, 2022, State Street Global Advisors Inc. (Research), Rhode Island Commerce Corp. (United States), State Street Bank & Trust Co. (UK Branch). Mr. Buckley currently serves as a trustee and vice chair of The Shipley School. THIS SITE IS INTENDED FOR QUALIFIED INVESTORS ONLY. All persons and entities accessing the Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. In addition to those noted with an *, Lou Maiuri is also a Director of State Street Bank and Trust Company. Compare against similar firms. President & Chief Executive Officer
Source: Vanguard. Nothing on this web site shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Vanguards CEO and managing directors also serve as our Diversity, Equity, and Inclusion (DEI) Executive Council. Webof SSgA Funds Management, Inc. (SSgA FM or the Adviser), One Lincoln Street, 36thFloor, Boston, Massachusetts 02111-2900. Underpinning all of this work is the importance of effective board oversight, which has always been a cornerstone of our asset stewardship approach, given that the strength, independence, and effectiveness of boards is critical to ensuring the long-term value of a firm.4 In my experience, I have found that boards are not only the conduit between investors and management teams, but also often are best positioned to keep management focused on long-term strategy and provide needed perspective and governance with respect to material risks and opportunities facing the companies in which we invest our clients asset. From Sectors and Smart Beta to Fixed Income, SPDR Exchange Traded Funds (ETFs) give you wide access to diverse investment opportunities. In a world of ongoing economic and geopolitical uncertainty and market volatility, the need for strong governance and board oversight, transparency, and disclosure could not be more important. Before joining Vanguard, Lauren earned a B.S. Sign-up in economics from Fairfield University and an M.S. SSGA FD and State Street Global Advisors are affiliated. Today, directors are busier than ever, reporting a 25% increase both in formal board meetings and number of days spent on director work4 often serving on multiple boards simultaneously. 5 Shareholders expect boards to effectively govern themselves with respect to the ability of directors to devote adequate time to the boards work. Ronald P. O'Hanley is a Chairman, President & Chief Executive Officer at State Street Corp., a Chairman & Chief Executive Officer at SSgA Funds Management, Inc., a He was vice chairman of Mellon Financial Corporation and president and chief executive officer of Mellon Asset Management. Thats why this Wall Street-funded sculpture will never be a symbol to embrace. By providing your email address below, you are providing consent to State Street to send you the requested Investor Email Alert updates. We offer one of the broadest ranges of strategies across asset classes, risk profiles, Outside of Vanguard, he served as chairman of the board of Children's Hospital of Philadelphia from 2011 to 2017. Gregory Davis is managing director and Vanguard's chief investment officer, overseeing more than $7 trillion managed by Vanguard Fixed Income, Equity Index, and Quantitative Equity groups.3Previously, Greg was principal and global head of Vanguard Fixed Income Group, responsible for its portfolio management, strategy, credit research, trading, and planning functions. Supplemental Public Disclosure of Basel III Regulatory Capital, U.S. Research our investment professionals with FINRA's BrokerCheck. SSGA creates customized investment strategies for institutions. Our senior management team, in concert with Vanguard's board of directors, ensures that Vanguard is operated solely in the best interests of its investor-owners.1 They are jointly responsible for stewarding the assets entrusted to Vanguard by more than 30 million clients.2. Tara Bunch is head of global operations at Airbnb where she oversees community support, trust and safety, and payments for Hosts and guests in 220 countries and regions. The information provided does not constitute investment advice and it should not be relied on as such. Ssga Funds Management is based out of Boston. Ssga Funds Management is a hedge fund with 279 clients and discretionary assets under management (AUM) of $894,513,485,797 (Form ADV from 2022-11-28). STATE STREET GLOBAL ADVISORS, INC. At the Special Meeting, the Trusts As long-term holders of capital on behalf of our clients, we believe that our portfolio companies must have effective oversight and governance to ensure they consider these risks and opportunities and integrate them into their strategy and management. The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. In addition, he coordinates the activities of the independent directors, including calling their regular executive sessions.
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