State Street Corporation (NYSE:STT) announced today that its Board of Directors has appointed Sara Mathew as independent Lead Director effective immediately.
Mathew succeeds Dame Amelia Fawcett, who has served as independent Lead Director since 2019. Fawcett will remain on State Street's Board and continue to serve on the Board's Human Resources Committee and Nominating and Corporate Governance Committee. State Street's shareholders re-elected each of Mathew and Fawcett to the Board at State Street's annual meeting earlier this week.
Mathew has served as a Director for State Street since 2018, providing the Board with deep expertise in corporate finance, technology, corporate strategy and operations. Her leadership and perspective are enhanced by her current and former service on other public company boards in the roles of independent director, committee chair and non-executive chair. She has served as the Chair of State Street Board's Human Resources Committee and a member of the Board's Executive Committee since 2020 and of the Examining and Audit Committee since 2022, with prior memberships on the Nominating and Corporate Governance Committee and Risk Committee. As Lead Director, Mathew will represent the Board in discussions with shareholders and regulators, as well as preside over meetings of the independent directors.
"Leadership renewal is a key attribute of an effective board. It has been a great honor and privilege to have served as Lead Director of State Street and to have had the opportunity to further develop and deepen this important role," said Fawcett. "I believe the time has come to refresh State Street's board leadership and pass the role to another Director. I am confident that Sara will continue the highly active and engaged leadership and governance practices embodied in State Street's Lead Director role and that she will continue to evolve and grow this important position."
"I am delighted to take on this expanded role as independent Lead Director," said Mathew. "The State Street Board comprises a talented and engaged group of accomplished leaders with diverse backgrounds and perspectives. I look forward to continuing to collaborate with my fellow Board members in this role and to help focus discussions on strategy, risk management and other topics to advance State Street's vision and long-term growth."
Mathew previously served as chairman and chief executive officer of Dun & Bradstreet where she also held the position of chief financial officer. Before Dun & Bradstreet, Mathew had an 18-year career at Procter & Gamble within finance, technology, investor relations and brand management. She currently serves on the Board of Directors for Dropbox. She received a bachelor's degree in physics, mathematics and chemistry from the University of Madras in Chennai, India and a master's degree in finance and marketing from Xavier University in Cincinnati, Ohio.
"Sara has been a tremendous supporter of and advisor to our business, and I am looking forward to working with her in this new capacity," added Ron O'Hanley, chairman and chief executive officer of State Street Corporation. "I would also like to thank Amelia for her outstanding contributions and the significant impact she has made on State Street. Her dedication and unwavering commitment in the Lead Director capacity have been instrumental in the effectiveness of our Board and the positive impact for shareholders."
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 $46.7 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of March 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of March 31, 2025 includes approximately $106 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.
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