Mortimer (Tim) Buckley is chairman of the board and chief executive officer of Vanguard. WebThe board is responsible for setting broad policies for the company; monitoring the companys financials, operations, compliance, risk management; and electing officers. 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. Fixed Income Funds Investment ERISA Litigation", "Administrative Proceeding: State Street Bank and Trust Company", "Class action sought in State Street suit", "The firm behind "Fearless Girl" will pay $5 million for salary discrimination against women", "Firm Behind Fearless Girl Agrees to $5 Million Pay Discrimination Settlement", SSGA's site for exchange traded funds (ETFs) and mutual funds. 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. It should not be considered a solicitation to buy or an offer to sell a security. in finance and an M.B.A. from Villanova University. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. Please note all AUM is unaudited. This makes sense, as responsibility lies with boards to oversee related strategy. 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. [27] They are Advanced Investment Partners; Asian Direct Capital Management; GovernanceMetrics International (GMI); Innovest Strategic Value Advisors, Inc.; Rexiter Capital Management Limited; Shott Capital Management, LLC; SSARIS Advisors, LLC; The Tuckerman Group, LLC; and Wilton Asset Management, LLC. State of Wisconsin Investment Board Financial Services *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. 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. email address below and choose 'Submit'. 5 All persons and entities accessing the Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Vanguard is the trusted name in investing. You must click the activation link in order to complete your subscription. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Copyright 2023 Surperformance. The acquisition was first announced in October 2010 for approximately 57 million. 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. Sign-up [[]] %%State Street Corporation%%. in information systems from Saint Joseph's University. Boston, MA 02111-2900. [citation needed]. Hedge Fund 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. Please note all AUM is unaudited. He is responsible for overseeing global risk and security functions, which include enterprise risk management, investment risk management, and cyber security and fraud protection. Research our investment professionals with FINRA's BrokerCheck. Assets under management climbed to $161 billion (USD) in 1994 and more than quadrupled to $667 billion by 1999. -, 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). 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. Please read it carefully before investing. 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. 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. 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. Liquidity Coverage Ratio Disclosures, SSGM, LLC Statements of Financial Condition, Political Contributions and Activities Policy. You can sign up for additional alert options at any time. This document contains certain statements that may be deemed forward-looking statements. He is a former professor of business administration at Harvard Business School and the former dean of Georgetown Universitys McDonough School of Business. Outside of Vanguard, he served as chairman of the board of Children's Hospital of Philadelphia from 2011 to 2017. in economics from Harvard College and an M.B.A. from Harvard Business School. SEC Filings include 13F quarterly reports, 13D/G events and more. 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. He is also a member of the Franklin Institute board of trustees. All rights reserved. ***Log In or 1001 and 1030). He also served as the company's Asia-Pacific chief investment officer and a director of Vanguard Investments Australia. 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. 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. 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. 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. This will continue to be our approach in the years ahead. 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. He holds a bachelor's degree from Bloomsburg University of Pennsylvania and an M.B.A. from Drexel University. 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. In addition to those noted with an *, Lou Maiuri is also a Director of State Street Bank and Trust Company. 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. You should consult your tax and financial advisor. You should consult your tax and financial advisor. The information provided does not constitute investment advice and it should not be relied on as such. 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 provided does not constitute investment advice and it should not be relied on as such. In this capacity, the team drives our DEI vision, goals, and accountability across Vanguard and tracks our progress. Our leadership team is backed by more than 500 market cycle-tested investment professionals. As of March 2021, it had 142 exchange traded funds (ETFs) owned and controlled by the company.[5]. Total Annual Fund Operating Expense Arrangements SSGA Funds Management, Inc. (SSGA FM), as adviser to each series He is a member of the board of governors of the Investment Company Institute and of FINRA. 2023 State Street Corporation. *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. His responsibilities include serving as a principal point of contact for the independent directors, who appoint the chairman of the board. The funds provide inve Read More Contact Who is SSGA Headquarters 1 Iron St, Boston, Massachusetts, 02210, United States Phone Number (617) 786-3000 Website One Lincoln Street. The bronze statue installed by an advertising firm and a financial firm represents basically everything thats wrong with our society. 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. 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. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. Investing involves risk including the risk of loss of principal. 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. Tim holds an A.B. from Columbia University Law School. Phone: 617 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. 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. Emerson Fullwood is executive in residence at the Rochester Institute of Technology, where he was the 20092010 Distinguished Minett Professor. WebAbhishek Kumar is a Managing Director and the Sector Head for Emerging Markets Debt within He joined SSGA LTD in 2010. 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. All rights reserved. WebInstitutional ownership Institutional investors hold a majority ownership of STT through the 92.15% of the outstanding shares that they control. 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. 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. All rights reserved. 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. SEC form, multiple filers or classes of filers, and much more.***. They operate 3 private funds and have approximately $429.46 billion in total assets under management (AUM). 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. Dr. Thomas joined Vanguards board in 2021. 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. Mark Loughridge is the board's lead independent director. WebDetailed Profile of SSGA FUNDS MANAGEMENT INC portfolio of holdings. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Supplemental Public Disclosure of Basel III Regulatory Capital, U.S. 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. Ms. Mr. Malpass joined the Vanguard board in 2012. from Johns Hopkins University and an M.B.A. from The Wharton School at the University of Pennsylvania. [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. We have generally found that good disclosure reduces the tendency for shareholders to micromanage companies in which they invest. in insurance from Pennsylvania State University and an M.B.A. in finance from the Wharton School of the University of Pennsylvania. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. ETF products are also available in other parts of the world such as Belgium, France, Hong Kong, and Singapore under the streetTracks brand. We'll assume you're ok with this, but you can opt-out if you wish. The consistent, transparent, and pragmatic approach our team has taken to fulfilling our asset stewardship responsibilities on behalf of clients has not been static. He joined Vanguard's board in 2008. View More Information About Our Firm: FINRA's BrokerCheck. 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. Nitin previously led Vanguards Retail and Corporate Systems within the Information Technology division. 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. Matt joined Vanguard in 2008. All rights reserved. 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. The Site is not directed to any person in any jurisdiction where the publication or availability of the Site is prohibited, by reason of that person's nationality, residence or otherwise. 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. By using this site, you are agreeing to security monitoring and auditing. 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. Joseph Loughrey is the retired president and chief operating officer of Cummins Inc. and retired chairman of the board of Hillenbrand, Inc. 5 Shareholders expect boards to effectively govern themselves with respect to the ability of directors to devote adequate time to the boards work. From Sectors and Smart Beta to Fixed Income, SPDR Exchange Traded Funds (ETFs) give you wide access to diverse investment opportunities. 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. Since joining Vanguard in 1997, Karin has held various leadership roles across the firm's corporate, institutional, and individual investor groups. Most recently, he was head of Retail Client Services and Operations. While recently there has been a great deal of discussion in the market regarding environmental, social, and governance (ESG) issues, State Street Global Advisors has consistently viewed these issues through a lens of long-term value creation. The Company provides portfolio management, financial planning, and investment advisory services.
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