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Boston, MA — State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that Michael P. McAuley, Esq., senior managing director and chief product officer for State Street's Securities Finance team, has been named chairman of the securities lending committee for the Risk Management Association (RMA).
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| During his two-year term, McAuley will oversee the committee as it works to represent the interests of agent lenders, promote best practices and partner with other industry organizations to address current issues and implement workable solutions. Under his leadership, the committee will continue its efforts to improve transparency, risk management and the overall regulatory and operational environment for securities lending. |
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| "The industry stands to benefit considerably from the Risk Management Association's commitment to promoting sound practices in securities lending and educational opportunities for institutions of all sizes," said McAuley. "I am excited to be taking on the responsibilities of chairman of the securities lending committee and to have the opportunity to work with the other distinguished professionals who serve on our committee." |
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| "Mike has been a committee member since 2004 and brings his extensive knowledge and industry expertise to the chairmanship," said Curtis Knight, director, securities lending, RMA. "As this committee celebrates its 25th anniversary, we are confident he and the other committee members will continue to work diligently on behalf of our membership and the securities lending industry." |
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About Risk Management Association
Founded in 1914, The Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise-wide approach to risk management that focuses on credit risk, market risk and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has 3,000 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 20,000 risk management professionals who are chapter members in financial centers throughout North America, Europe, and Asia/Pacific. |
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About State Street
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 $1.9 trillion in assets under management at June 30, 2008, 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. |
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