Mike joined Vanguard in June 2016 and was previously executive vice president and CFO of MassMutual Financial Group. *This figure is presented as of March 31, 2023 and includes approximately $65.03 billion USD of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. President & Chief Executive Officer Read it carefully before investing. Because the share price of the Fund is expected to fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. 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. SSGA is the number three ETF manager in the world after BlackRock and Vanguard.[12]. [[]] %%State Street Corporation%%. Mr. O'Hanley was president of Asset Management & Corporate Services for Fidelity Investments. 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. Unfortunately, more than 1 in 5 companies in the S&P 500 provide limited transparency into how they manage their directors time commitment. 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). The same individuals serve on the Vanguard board of directors and the funds' boards of trustees. The statue is an advertisement for an index fund which comprises gender diverse companies that have a higher percentage of women among their senior leadership. The trademarks and service marks referenced herein are the property of their respective owners. As of March 2021, it had 142 exchange traded funds (ETFs) owned and controlled by the company.[5]. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. 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. 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. President & CEO, State Street Global Advisors, 1 e.g., Donangelo et al., Rouen et al., Edmans, 2 e.g., McKinsey, Bernile et al., BoardReady. He was previously the George Gund Professor of Finance and Banking at the Harvard Business School. in business administration from Georgetown University and a postgraduate degree from the Kellogg School of Management at Northwestern University. 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. By using this site, you are agreeing to security monitoring and auditing. Matthew Benchener is managing director of Vanguard Personal Investor, which serves individual clients and small businesses. Investing involves risk including the risk of loss of principal. This raises the concern that a substantial increase in directors workloads could lead to a degradation of overall board effectiveness over time. This article relies excessively on references to primary sources. State Street Global Advisors ( SSGA) is the investment management division of State Street Corporation and the world's fourth largest asset manager, [1] with nearly $4.14 trillion (USD) [2] in assets under management as of 31 December 2021. [3] View the FinSA disclosures, Not FDIC Insured * No Bank Guarantee * May Lose Value. I look forward to continuing to work together with board directors like you in the years to come. Investment Advisor 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 Compare against similar firms. All material has been obtained from sources believed to be reliable. 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. Previously, he was Vanguard's chief investment officer, overseeing the company's internally managed stock, bond, and money market portfolios as well as its investment research and methodology. WebSSgA Funds Management, Inc. operates as an investment firm. Previously she served as a managing director and general counsel in the Citigroup global legal department. It should not be considered a solicitation to buy or an offer to sell a security. It should not be considered a solicitation to buy or an offer to sell a security. She earned an M.B.A. from Villanova University in 2009. 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. 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. Mr. Buckley joined Vanguard in 1991 and has held a number of senior leadership positions, including chief information officer from 2001 to 2006 and head of the Retail Investor Group from 2006 to 2012. WebManaging Director at State Street Global Advisors SSGA FUNDS MANAGEMENT INC | 11 followers on LinkedIn. The 'Fearless Girl' statue sums up what's wrong with feminism today. 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 Ssga Funds Management, Inc. State Street Financial CenterOne Lincoln Street Boston, MA 02111-2900 United States, Private Funds Managed(3): Core Realty Investors I Trust , International Private Equity Fund Lp, International Private Equity Fund Ii Lp, Rank: 9 out of 6900 private fund companies, Rank: 10 out of 6900 private fund companies, Rank: 477 out of 6900 private fund companies, Rank: 102 out of 6900 private fund companies, Rank: 144 out of 6900 private fund companies, Rank: 2465 out of 6900 private fund companies. ***Log In or Anne earned a bachelor's degree in political science from Hampton University and a J.D. Matt joined Vanguard in 2008. Find out more. Since joining Vanguard in 2003, she has held various roles in the organization's Institutional, Information Technology, and Retail divisions. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. [30], 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. 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. Going forward, we will continue using director and committee chair votes to encourage sound governance and oversight while holding relevant directors accountable on a case-by-case basis as outlined in our related guidance on Effective Board Oversight. Please read it carefully before investing. Delayed Nyse 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. He is currently a director of DTE Energy Company. [citation needed]. The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates (S&P DJI) and have been licensed for use by State Street Global Advisors. This page was last edited on 25 April 2023, at 13:42. For more information, contact opendata@sec.gov. Its first three products were a domestic index fund, an international index fund (based on the MSCI EAFE index), and a short-term investment fund. The Company provides portfolio management, financial planning, and investment advisory services. 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. [4], SSGA employs 2,500 people in 28 countries around the world. 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. Previously, he was Vanguard's chief investment officer, overseeing the company's internally managed stock, bond, and money market portfolios as well as its investment research and methodology. You can sign up for additional alert options at any time. And just like The Vanguard Group, SSgA also operates globally. She is managing director of the Office of the General Counsel, which includes Government Relations, Legal, Compliance, and Investment Stewardship. United States. * denotes Directors of State Street Bank and Trust Company, a Massachusetts state-chartered company. He joined Vanguard in 1997. Ssga Funds Management is based out of Boston. 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. download a prospectus or summary prospectus. He earned a B.A. 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). All rights reserved. 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. To date, the proxy voting guidelines of most asset managers permit named executive officers, chairs, and lead independent directors to sit on a certain number of publicly listed portfolio company boards. 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. Copyright 2023 Surperformance. Corporate feminism always ends up betraying womens struggle for justice. Not FDIC Insured * No Bank Guarantee * May Lose Value. -, 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). 5 Mark Loughridge is the board's lead independent director. If you experience any issues with this process, please contact us for further assistance. Total Annual Fund Operating Expense Arrangements SSGA Funds Management, Inc. (SSGA FM), as adviser to each series Most recently, Chris was head of Vanguard's Planning and Development Group, now known as Strategy, Product, Marketing, Communications Group; before that, he was head of the Institutional Investor Group. Mike holds a B.S. As boards have increasingly focused on managing longer-term risks and opportunities, their governance, committee structure, and effectiveness have become that much more important. WebDetailed Profile of SSGA FUNDS MANAGEMENT INC portfolio of holdings. Not all products will be available to all investors. Vanguards CEO and managing directors also serve as our Diversity, Equity, and Inclusion (DEI) Executive Council. He joined Vanguard in 2019 to lead the Chief Technology Office and previously served as a consultant and partner for Deloitte Consulting, leading their Financial Services Cloud practice. Asset management, Boards of Directors, Climate change, Diversity, Enagement, ESG, Executive Compensation, Index funds, Institutional Investors, SSgA, Stewardship, Sustainability More from: Erica Lukoski, PJT CamberView 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. All rights reserved. This makes sense, as responsibility lies with boards to oversee related strategy. Our leadership team is backed by more than 500 market cycle-tested investment professionals. 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. References to State Street may include State Street Corporation and its affiliates. in economics from Harvard College and an M.B.A. from Harvard Business School. 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. 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. View More Information About Our Firm:FINRA's Brokercheck. 2023 State Street Corporation. Note: We do not offer technical support for developing or debugging scripted downloading processes. Our commitment to pragmatic stewardship and our focus on long-term value creation remain steadfast. The information provided does not constitute investment advice and it should not be relied on as such. Prior to her current role, she was managing director of Vanguard's Retail Investor Group. 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. 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. In addition to those noted with an *, Lou Maiuri is also a Director of State Street Bank and Trust Company. All rights reserved. In October 2007, several pension funds sued State Street Corp. for the alleged mishandling of several bond funds managed by SSGA. Vanguard recognizes the importance of diversity in the composition of corporate boards. The information provided does not constitute investment advice and it should not be relied on as such. He works with the chairman to develop the agenda of board meetings and chairs the meetings of the independent directors, including meetings of the audit, compensation, and nominating committees. Webof SSgA Funds Management, Inc. (SSgA FM or the Adviser), One Lincoln Street, 36thFloor, Boston, Massachusetts 02111-2900. The information provided does not constitute investment advice and it should not be relied on as such. Joe earned a B.A. Emerson Fullwood is executive in residence at the Rochester Institute of Technology, where he was the 20092010 Distinguished Minett Professor. John James is managing director of Vanguard's Institutional Investor Group, which serves the investment needs of employers offering company-sponsored retirement plans as well as organizations such as endowments and foundations. 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. 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. SSGA FD and State Street Global Advisors are affiliated. It should not be considered a solicitation to buy or an offer to sell a security. 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. He is a member of the Council on Chicago Booth. For more information, please see the SECs Web Site Privacy and Security Policy. He earned a B.S. President & Chief Executive Officer 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. 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. He is a CFA charterholder and a member of the CFA Society of Philadelphia. Most recently, he was head of Retail Client Services and Operations. The returns on a portfolio ofsecurities which exclude companies that do not meet the portfolio's specifiedESG criteria may trail the returns on a portfolio of securities which includesuch companies. They operate 3 private funds and have approximately $429.46 billion in total assets under management (AUM). 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. SSGA FD and State Street Global Advisors are affiliated. Vanguard is the trusted name in investing. The consistent, transparent, and pragmatic approach our team has taken to fulfilling our asset stewardship responsibilities on behalf of clients has not been static. Peter Volanakis is theretired president and chief operating officer of Corning Incorporated. 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. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. He joined Vanguard in 1991 and has held a number of senior leadership positions, including chief information officer from 2001 to 2006 and head of the Retail Investor Group from 2006 to 2012. Learn More About Our Asset Stewardship Program. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGAs express written consent. How do I update this listing? 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. Chris holds a B.S. 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. 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. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data. Thank you for your interest in the U.S. Securities and Exchange Commission. [3], The company services financial clients by creating and managing investment strategies for governments, corporations, endowments, non-profit foundations, corporate treasurers and CFOs, asset managers, financial advisors and other intermediaries around the world. Research our investment professionals with FINRA's BrokerCheck. He is responsible for overseeing global risk and security functions, which include enterprise risk management, investment risk management, and cyber security and fraud protection. All text and design is copyright 2020 WhaleWisdom.com. Fulfilling the fiduciary duty it owes to its clients is an investment managers most important responsibility. This means that this marketing communication (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research (b) is not subject to any prohibition on dealing ahead of the dissemination of investment research. By contrast, our team has found that votes in director elections are far more effective at focusing board attention on issues we believe important to long-term value and on which we have engaged with a portfolio company. Our leadership team is backed by more than 500 market cycle-tested investment professionals. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. 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 . 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. Click the link to obtain aprospectus or summary prospectuswhich contains this and other information, or by calling 1.877.521.4083. Intergovernmental Panel on Climate Change. 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. At the Special Meeting, the Trusts Distributor:State Street Global Advisors Funds Distributors, LLC, memberFINRA,SIPC, an indirect wholly owned subsidiary of State Street Corporation. In her previous role, Lauren was a principal in the defined contribution retirement plan business in Vanguard's Institutional Investor Group, where she led Participant Services and Operations. State Street Global Advisors, One Iron Street, Boston, MA 02210-1641. Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. Mr. Loughridge joined Vanguard's board of directors in 2012. Please note all AUM is unaudited. She joined Vanguard's board in 2017. He has been a Vanguard director since 2004. WebState Street Global Advisors Proxy Voting and Engagement Guidelines for Australia and New Zealand address our market-specific approaches to topics including directors and boards, accounting and audit-related issues, capital structure, reorganization and mergers, remuneration, and other governance-related issues. 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.
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