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Hong Kong—State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has received top rankings in Asia Asset Management magazine's 2007 Achievement Awards. State Street Global Advisors (SSgA), the company's investment management arm, was named "Most Improved Institutional House" in Hong Kong and awarded "Best Community Service." State Street was also rated "Best Securities Lending House" for the second consecutive year. The awards were presented on Thursday, March 6, at a dinner ceremony held at the Four Seasons Hotel in Hong Kong.
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| "Since opening our office in Hong Kong in 1990, SSgA has continued to expand and refine our asset management capabilities in the rapidly growing Asia-Pacific market," said Mr. Bernard Reilly, senior managing director for State Street Global Advisors (SSgA) Asia Limited. "We are honoured to have SSgA's strong business growth and successful community outreach programmes recognized by Asia Asset Management. These rankings are a testament to our long-standing commitment to supporting the business and community needs of the region." |
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| State Street is in its 10th consecutive year as principal sponsor of the Oxfam Trailwalker, one of the region's largest fundraising events, helping to raise more than HK$180 million in support of Oxfam's poverty and emergency relief projects. The company also sponsors the event in Australia, Japan and the United Kingdom. For six years, the company has received the Caring Company distinction from the Hong Kong Council of Social Service. |
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| With approximately $3 trillion in lendable assets and nearly $700 billion in assets on-loan, State Street is a market leader in securities finance. State Street has been providing securities lending services since 1974, and today lends securities in more than 35 markets around the world through a global network of trading locations. In recent months, State Street has expanded its securities lending presence in the Asia-Pacific region, adding an operations group in Japan, establishing new locations or otherwise strengthening its capabilities in Australia and Singapore, as well as announcing plans for a new securities finance trading desk in Hong Kong. The Hong Kong location is State Street's sixth securities finance trading desk worldwide and its third in the Asia-Pacific region. |
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| "The Asia-Pacific region is a key focus for us as we continue to expand our securities lending business," said Mr. Francesco M. Squillacioti, senior managing director and Asia-Pacific regional business director for Securities Finance at State Street. "We are pleased to receive this award for the second consecutive year, as it underscores our ongoing commitment to delivering innovative, sound borrowing and lending programs that meet the growing needs of our customers." |
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| A complete list of award winners is available at www.asiaasset.com, and a full article will appear in the March edition of Asia Asset Management. |
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About State Street Global Advisors
State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $2 trillion in assets under management at December 31, 2007, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 27 cities worldwide. For more visit State Street Global Advisors at www.ssga.com.
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About State Street Corporation
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 $15.3 trillion in assets under custody and $2 trillion in assets under management at December 31, 2007, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street's web site at www.statestreet.com
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