He is also a graduate of Harvard Business School's Advanced Management Program. 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. 5 The Vanguard Funds are overseen by boards of trustees. Our 2023 stewardship priorities are to encourage transparency and disclosure in the areas of 1) effective board oversight, 2) climate risk management, 3) human capital management, and 4) diversity, equity and inclusion. President & Chief Executive Officer This raises the concern that a substantial increase in directors workloads could lead to a degradation of overall board effectiveness over time. Kheng Siang Ng, CFA, is a Vice President and He joined SSGA Singapore in 2005. 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. [citation needed]. Since joining Vanguard in 2003, she has held various roles in the organization's Institutional, Information Technology, and Retail divisions. 3 Institutions including the Bank of England, the IMF, and the Federal Reserve have all asserted these risks, as has the UN-sponsored Intergovernmental Panel on Climate Change. State Street Global Advisors approach over the years has been to use constructive engagement to encourage two-way dialogue with boards while at the same time holding them accountable for improving disclosure, oversight, and strategy. Before that, she was chief operating officer and executive vice president of the company's individual life and disability division. Vanguards CEO and managing directors also serve as our Diversity, Equity, and Inclusion (DEI) Executive Council. SSGA FUNDS 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. Blue Sky Digital Outdoor Advertising Fund Fund Data, Sarasin Ie Global Equity Opportunities (Usd) Fund Data, Themelios Ventures Ii-A, L.P. Fund Data. The Company provides portfolio management, financial planning, and investment advisory services. The Sculpture of a Fearless Girl on Wall Street Is Fake Corporate Feminism. As of March 2021, it had 142 exchange traded funds (ETFs) owned and controlled by the company.[5]. Mr. Loughridge joined Vanguard's board of directors in 2012. Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. Dear Board Member, It should not be considered a solicitation to buy or an offer to sell a security. SSGA FD and State Street Global Advisors are affiliated. 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. Mr. Loughrey is a member of the advisory council for the College of Arts and Letters and the chairman of the advisory board to the Kellogg Institute for International Studies, both at the University of Notre Dame. The bronze statue installed by an advertising firm and a financial firm represents basically everything thats wrong with our society. 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. 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. Chris holds a B.S. Total Annual Fund Operating Expense Arrangements SSGA Funds Management, Inc. (SSGA FM), as adviser to each series S&P, SPDR, S&P 500,US 500 and the 500 are trademarks of Standard & Poors Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones) and has been licensed for use by S&P Dow Jones Indices; and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by State Street Global Advisors. 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. He joined Vanguard in 1997. 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. Intergovernmental Panel on Climate Change. In 1990 State Street Global Advisors was formed as a separate entity from State Street Bank[8] with the mission of expanding globally:[6] first London, 10 more international locations by 1994,[9] with 15 by 1999. References to State Street may include State Street Corporation and its affiliates. Prior to joining Fidelity, he served as president and chief executive officer of BNY Mellon Asset Management in Boston. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information. SSgA stands for State Street Global Advisors. 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. -, State Street to Participate in Autonomous Bernstein's 39th Annual Strategic Decisions Conference, Factbox-Industry targets of U.S. Republicans' anti-ESG efforts, The Shareholder Commons, Inc Files an Exempt Solicitation Statement and Urge Support for its Proposal, Other Investment Management & Fund Operators, BANK OF NEW YORK MELLON CORPORATION (THE), Sector Other Investment Management & Fund Operators, President, COO & Head-Investment Services, Chief Administrative Officer & Executive VP, Executive VP & Global Head-Investor Relations, Secretary, Executive VP & General Counsel, T. Rowe Price Associates, Inc. (Investment Management), Capital Research & Management Co. (International Investors), Robert W. Baird & Co., Inc. (Fixed Income). He also served as a fiduciary member of IBM's Retirement Plan Committee. SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors. All text and design is copyright 2020 WhaleWisdom.com. Not FDIC Insured * No Bank Guarantee * May Lose Value. Source: Vanguard. Get to know the team. Dr. Thomas joined Vanguards board in 2021. 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. You should consult your tax and financial advisor. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Find out more. As shown below, Vanguard's board is diverse across multiple dimensions. View More Information About Our Firm: FINRA's BrokerCheck. 5 Shareholders expect boards to effectively govern themselves with respect to the ability of directors to devote adequate time to the boards work. Tim currently serves as a trustee and vice chair of The Shipley School. Dr. Perold is a board member of RIT Capital Partners. [20] While some have seen it as an encouragement of women in business, some women criticized the statue as "corporate feminism" that violated their own feminist principles.[21][22][23]. 4 U.S. Spencer Stuart Board Index, 2021. spencerstuart.com/-/media/2021/october/ssbi2021/us-spencer-stuart-board-index-2021.pdf, 5 MyLogIQ data, calculated by State Street Global Advisors, December 2022.https://www.mylogiq.com/. [[]] %%State Street Corporation%%. Mortimer (Tim) Buckley is chairman of the board and chief executive officer of Vanguard. Language links are at the top of the page across from the title. in insurance from Pennsylvania State University and an M.B.A. in finance from the Wharton School of the University of Pennsylvania. WebDetailed Profile of SSGA FUNDS MANAGEMENT INC portfolio of holdings. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. He received his Bachelor of Arts degree in political science from Syracuse University in 1980 and his Master of Business Administration from Harvard Business School in 1986. 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. Matt joined Vanguard in 2008. In addition to those noted with an *, Lou Maiuri is also a Director of State Street Bank and Trust Company. 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. In addition, he coordinates the activities of the independent directors, including calling their regular executive sessions. All rights reserved. Sarah Bloom Raskin has served as the deputy secretary of the U.S. Department of the Treasury, as a governor of the Federal Reserve Board, and as the commissioner of financial regulation for the state of Maryland. State Street Bank & Trust Co. v. Signature Financial Group, Inc. Mitsubishi UFJ Trust and Banking Corporation, https://en.wikipedia.org/w/index.php?title=State_Street_Global_Advisors&oldid=1151669373, Financial services companies established in 1978, Investment management companies of the United States, Articles lacking reliable references from May 2021, Articles needing additional references from May 2021, All articles needing additional references, Articles with multiple maintenance issues, Articles with unsourced statements from May 2021, Creative Commons Attribution-ShareAlike License 3.0, In 2003, State Street Global Advisors' Boston office moved to the newly completed. in finance from Drexel University. The ETFs track international and domestic indices based on market capitalization, investment style, sector, industry, or commodity. For more information, contact opendata@sec.gov. By providing your email address below, you are providing consent to State Street to send you the requested Investor Email Alert updates. Our leadership team is backed by more than 500 market cycle-tested investment professionals. Distributor:State Street Global Advisors Funds Distributors, LLC, memberFINRA,SIPC, an indirect wholly owned subsidiary of State Street Corporation. SEC Filings include 13F quarterly reports, 13D/G events and more. Source: Vanguard. You should consult your tax and financial advisor. 3 Assets under management are as of February 28, 2023. The products and services described on this web site are intended to be made available only to persons in the United States, and the information on this web site is only for such persons. 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. The fund is not sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of these indices. "SPDR Exchange Traded Funds (ETFs) - Legal", "State Street Challenging BNY Mellon As Largest Custody Bank", "State Street Global Advisors: ESG Investing & Stewardship", "State Street Bank and Trust Co. Directors and Boards . Tim holds an A.B. The 'Fearless Girl' statue sums up what's wrong with feminism today. ***Log In or 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. She started her career in private law practice and went on to serve as counsel with Deloitte Consulting before moving to American Express in 2003. Institutional asset management from State Street Global Advisors' Investment Solutions Group (ISG) Powered by SPDR ETFs The underlying funds for the investment options offered in the plan are ETFs and, where applicable, mutual funds managed by SSGA Funds Management, Inc. At State Street, we promise to treat your data with respect and will not share your information with any third party. The same individuals serve on the Vanguard board of directors and the funds' boards of trustees. I look forward to continuing to work together with board directors like you in the years to come. Karin Risi is managing director of Vanguards Strategy, Product, Marketing and Communications division, which is responsible for Vanguard's global investment product development and oversight, enterprise strategy and business development, and global marketing and communications. 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 As our now State Street Chairman & CEO, Ron OHanley, said in 2017 when he was CEO of State Street Global Advisors: Long-term value begins at the board. Despite all of the changes we have witnessed in these intervening six years, his words remain true today and continue to guide us in our mission to serve all investors. Mr. Buckley holds an A.B. Find out more. Mike holds a B.S. Matthew Benchener is managing director of Vanguard Personal Investor, which serves individual clients and small businesses. 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. Chief Investment Officer, Fundamental Value Equities, CIO, Global Fixed Income, Currency & Cash, Global Head of ESG and Sustainable Investing, Head of SPDR Capital Markets and Strategic Partners, Global Head of SPDR ETF Strategy, Planning and Infrastructure, Head of European Institutional Distribution, Chief Technology Officer and Head of Transformation, Head of State Street Global Advisors India, Head of State Street Global Advisors Europe Ltd, Chief Operating Officer, Global Institutional Group, Head of State Street Global Advisors EMEA and Head of the Global SPDR ETF Business. 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. 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. We reserve the right to block IP addresses that submit excessive requests. 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 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. David Thomas is president of Morehouse College and a trustee of Common Fund. This makes sense, as responsibility lies with boards to oversee related strategy. We believe that diversity of thought and perspective, complemented by a broad range of experience, skills, and personal attributes, positions the board to serve our clients effectively. Previously, Joe served as head of Vanguard Equity Index Group, chief investment officer of the Asia Pacific region, a director of Vanguard Investments Australia, and head of Vanguard Portfolio Review Department. We offer one of the broadest ranges of strategies across asset classes, risk profiles, Ssga Funds Management is a alternative asset management company based in Boston, MA. 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). Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. Persons under these restrictions must not access the Site. From Sectors and Smart Beta to Fixed Income, SPDR Exchange Traded Funds (ETFs) give you wide access to diverse investment opportunities. WebCorporate Governance - Board of Directors | State Street Bank and Trust Company Board of Directors Ronald P. O'Hanley * Chairman Read Biography Amelia C. Fawcett * Lead Chief Investment Officer, Fundamental Value Equities, CIO, Global Fixed Income, Currency & Cash, Global Head of ESG and Sustainable Investing, Head of SPDR Capital Markets and Strategic Partners, Global Head of SPDR ETF Strategy, Planning and Infrastructure, Head of European Institutional Distribution, Chief Technology Officer and Head of Transformation, Head of State Street Global Advisors India, Head of State Street Global Advisors Europe Ltd, Chief Operating Officer, Global Institutional Group, Head of State Street Global Advisors EMEA and Head of the Global SPDR ETF Business. State Street Corporation is a financial holding company organized around 2 areas of activity: - investment services (83.1% of net sales): services intended mainly to Ms. Raskin joined Vanguard's board in 2017. Boston, MA 02111-2900. Webof SSgA Funds Management, Inc. (SSgA FM or the Adviser), One Lincoln Street, 36thFloor, Boston, Massachusetts 02111-2900. Copyright 2023 Surperformance. In April 2009, a class action suit was filed against State Street, alleging SSGA chose illiquid, leveraged, and risky securities in their short-term, liquid fund products. In October 2017, SSGA agreed to pay over $5 million in back pay and interest to settle allegations the company underpaid women and African-American employees. She earned a B.S. Ssga Funds Management is based out of Boston. Ssga Funds Management, Inc. State Street Financial Center. State Street Global Advisors Worldwide Entities, View More Information About Our Firm:FINRA's Brokercheck. He serves as chair of the board of trustees of Saint Anselm College. If you experience any issues with this process, please contact us for further assistance. He is a member of the board of governors of the Investment Company Institute and of FINRA. WebAbhishek Kumar is a Managing Director and the Sector Head for Emerging Markets Debt within He joined SSGA LTD in 2010. This document contains certain statements that may be deemed forward-looking statements. [7] By 1989 the division had $53 billion (USD) in assets under management. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. 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". You can unsubscribe to any of the investor alerts you are subscribed to by visiting the 'unsubscribe' section below. Click the link to obtain aprospectus or summary prospectuswhich contains this and other information, or by calling 1.877.521.4083. 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. Fulfilling the fiduciary duty it owes to its clients is an investment managers most important responsibility. CFA and Chartered Financial Analyst are registered trademarks owned by CFA Institute. Since joining Vanguard in 1997, Karin has held various leadership roles across the firm's corporate, institutional, and individual investor groups. Unfortunately, more than 1 in 5 companies in the S&P 500 provide limited transparency into how they manage their directors time commitment. Lauren Valente is managing director of Vanguard's Human Resources division, which is responsible for talent, leadership, and culture. He is a former professor of business administration at Harvard Business School and the former dean of Georgetown Universitys McDonough School of Business. Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. For instance, we ask companies to disclose information about their human capital management practices because research suggests that employees themselves increasingly are considered to be a material asset and how firms manage their people can create risks and opportunities and impact financial performance.1In addition, we have long encouraged boards to recruit diverse directors in light of research that suggests that a diversity of perspectives can enhance strategic oversight; likewise, we ask companies to offer insight into their diversity, equity, and inclusion efforts given the potential impact on financial performance.2And with increasing consensus that climate change is a potential systemic risk to firms and sectors alike,3we ask portfolio companies to provide transparency into their plans for managing climate-related risks, and encourage boards to have oversight of relevant climate risks and opportunities. While values are important to all of us, in this context we focus exclusively on value: how to drive long-term portfolio value. Joseph Loughrey is the retired president and chief operating officer of Cummins Inc. and retired chairman of the board of Hillenbrand, Inc. 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. 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. Before that he led MassMutual's Capital Markets division. He earned a B.A. in business administration from Georgetown University and a postgraduate degree from the Kellogg School of Management at Northwestern University. We'll assume you're ok with this, but you can opt-out if you wish. 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. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. He is also a member of the Franklin Institute board of trustees. to see more advanced email alert options such as selecting any type of from Saint Joseph's University and an M.B.A. from Harvard Business School. United States. 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. President & Chief Executive Officer 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 President & Chief Executive Officer Yie-Hsin is President and Chief Executive Officer of State Street Global Advisors, the investment Webc/o SSGA Funds Management, Inc. 1 Iron Street Boston, Massachusetts 02210 RE: State Street Institutional Investment Trust Fee Waiver and/or Expense Reimbursement Arrangements Dear Mr. Rosenberg: Section I. Please declare your traffic by updating your user agent to include company specific information. 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. Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. Mark Loughridge is the board's lead independent director. in economics from Harvard College and an M.B.A. from Harvard Business School. 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. [17][18][19], For March 2017, State Street Global Advisors commissioned a statue, Fearless Girl by Kristen Visbal, and located it temporarily in the Financial District, Manhattan, in front of the Wall Street icon Charging Bull. James Kramer is a Vice President of the Adviser and a Senior He joined the Adviser in 1996. View the latest funds and 13F holdings. State Street Global Advisors, One Iron Street, Boston, MA 02210-1641. Yie-Hsin Hung Assets under management climbed to $161 billion (USD) in 1994 and more than quadrupled to $667 billion by 1999. Anne joined Vanguard in 2016. Scott Malpassserves as a member of the board of Catholic Investment Services, Inc., and as a member of the board of superintendence of the Institute for the Works of Religion. 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.