State Street Corporation (NYSE:STT) today announced that it has appointed Mark Shelton to executive vice president and general counsel. Shelton, who will report to Ron O'Hanley, chairman and chief executive officer of State Street Corporation, succeeds David Phelan who announced his retirement last year.

Shelton joins State Street from Barclays International where he was general counsel overseeing legal services related to client transactions and trading as well as cross-border regulatory compliance, data security, privacy, and ESG strategy. Prior to Barclays, he was the Americas general counsel and global head of investigations at UBS. He is a former partner at Gibson, Dunn & Crutcher, where he headed the Financial Institutions Group, and at Wilmer, Cutler & Pickering, where he advised broker-dealers and investment advisors on regulatory and enforcement matters. Shelton began his legal career in the Office of General Counsel at the Securities Exchange Commission after serving as law clerk on the US Court of Appeals for the Eighth Circuit.

"Mark is an accomplished financial institutions attorney with a commercial orientation and deep knowledge of the banking industry," said O'Hanley. "With more than 30 years practicing law in both private practice and public sector environments, he has extensive experience related to multi-jurisdictional regulatory and other sophisticated legal issues facing large, global financial institutions. We are pleased to welcome him to State Street."

About State Street Corporation

State Street Corporation (NYSE:STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $40.0 trillion in assets under custody and/or administration and $3.7 trillion* in assets under management as of September 30, 2023, State Street operates globally in more than 100 geographic markets and employs approximately 42,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of September 30, 2023 includes approximately $58 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240104192793/en/

Mark Shelton Appointed General Counsel for State Street Corporation