A GLOBAL VOICE FOR A GLOBAL COMPANYSTATE STREET

WORLDIN ThE LEAD

INSIDE ThIS ISSuE OF ThE world

WhAT’S NEW ONLINE?

http://statestreetintranet

continued on page 2 >

Maribeth nashsenior Vice president, ghr

Your Feedback on Refining the PPR

In July, as part of State Street’s Global Opinion Exchange, we asked for employee opinions on the performance planning and goal-set-ting processes. We wanted to learn more about how you go about set-ting your performance goals, what kind of experience you had working with your manager on the goals pro-cess and how accountable you feel for the goals you set.

More than 6,000 employees responded to the Global Opinion Exchange, providing valuable feed-back that has allowed us to begin refining the Performance Planning Review (PPR) process. Based on survey results, 2011 goal-setting time will happen earlier than in pre-vious years. We also communicated corporate goals in December.

In addition, by consolidating the 16 skills/behaviors used throughout our talent management processes, we have simplified our approach, enabling us to focus on the six talent differentiators that are most critical to driving business results.

Going forward, we hope to ad-dress survey findings suggesting that the PPR process is time-con-suming, and consider more targeted communications to help all levels of employees better connect their work to corporate goals announced in December.

To learn more about the Global Opinion Exchange and to see the full survey results, visit the “Better” tab of the State Street intranet.

London — Members of the alternative investment solutions team in London who joined state street from Mourant international Finance administration, welcomed ceo Jay hooley to town for the all-employee town hall broadcast live from our canary Wharf offices in London — the second town hall that state street has hosted from a non-us location.

“As our clients look for more solutions-driven investment management strategies that span the risk spectrum, the addition of this team and capabilities

will enhance our ability to deliver on these needs.”– scott powers, president and ceo, state street global advisors,

on the announcement to acquire bank of ireland asset Management

From office holidays to the next all-employee town hall, find the date you’re looking for on the new Life @ state street calendar under the “Life @ state street” tab on the corporate intranet at http://statestreetintranet.

issue 03, 2010 – VoL. Viii, no. 03

state street’s recent agree-ment to acquire bank of ireland asset Management (biaM) from the bank of ireland group is not only a step toward achieving the company’s goal of doubling non-us revenues over the next five years, but it also broadens state street global advisors’ (ssga) product set.

biaM is a globally recognized investment management business with a diverse range of investment solutions across multiple asset classes including equities, fixed income, cash and property, which serves primarily a domestic irish client base. its fundamental active equity team has built a compelling three-year track record through its core global equity strategies.

“the business not only has an impressive fundamental active equity track record, but it also has a deep reservoir of investment tal-

ent,” explained scott powers, ssga’s president and ceo. “We continue to be fully committed to our indexing franchise and active quantitative management, and this acquisition will allow us to expand our investment platform and capability set and to offer a wider range of solutions that span the risk spectrum for our clients around the globe.”

this acquisition also sup-ports state street’s revenue growth goals. as Jay hooley noted in the recent all-employ-ee town hall, the world popu-lation’s growing age and the subsequent increasing need to fund retirement and savings are creating opportunities across state street.

“While economies are growing slowly around the world, what’s exciting about europe is the trans-formation that’s going on in the

part of the market that’s of most interest to us,” hooley explained. “asset pools are moving from defined benefit plans to defined contribution plans. this opens up new distribution systems, which allow us to provide a variety of services, including trading and as-set management.”

biaM has a history of col-laborating with ssga, including offering a range of ssga index strategies to its clients worth €9 billon.

upon closing, which is antici-pated in the first quarter of 2011, biaM’s more than 120 employees will be integrated into ssga and the company will be renamed as state street global advisors ire-land Limited. biaM’s fundamental active equity team will become a new global investment team within ssga’s investment structure.

state street global advisors to acquire bank of ireland asset management

> best oF business report shows commitment to corporate citizenshipP.2

automated Fund Workflow significantly reduces Fund set-up timeP.2

everybody’s talking about toastmasters at state street P.4

Q&a: corporate audit transformation with Jayne donahueP.4

> day in the LiFesecurities Finance — international equity tradingP.3

> on My MindP.6

> giVing back P.7

PAGE 2 STATE STREET WORLD – ISSuE 03, 2010

©2010 state street corporation

continued FroM p. 1

Inspired by the company’s commitment to “always fi nding better ways,” the fi rst release of Au-tomated Fund Workfl ow (AFW), a tool used to improve State Street’s fund set-up process, was launched in June of this year. Housed on the Global Center, the company’s proprietary, Web-based application that provides an integrated view of client relationships, AFW enables users to easily and effi ciently load core custody, accounting and other fund information onto MultiCur-rency Horizon (MCH) to service new business.

“Th is new application allows users to set up a new fund on MCH in minutes, as opposed to several days under the old system,” said Michael Brager, senior vice president and Asia-Pacifi c chief operations offi cer. “It really is quite revolutionary. Once fully imple-mented, it will create even greater operational effi ciencies and im-proved service delivery throughout the organization.”

AFW creates a global, stan-dardized process that streamlines and automates the client ID and fund reservation process. When fully implemented, it will seam-lessly update downstream appli-cations and eliminate rekeying of redundant information onto nu-merous forms, reducing the fund set-up time signifi cantly. Th e result is an increase in the control and review process, minimization of operating charge-off s, as well as a reduction in printing and off -site storage costs.

AFW Release 1, which auto-mates 12 key MCH header screens, was rolled out in UKMEA on June 28, in the Asia-Pacifi c region on October 18 and in Ireland on No-vember 15. Th e application will be available in Continental Europe and North America in 2011. AFW Release 2, scheduled for 2012, will

incorporate the remaining MCH header screens, including Flexible Fund Cycle set-up, with subse-quent releases covering the down-stream systems.

With the average cost of set-ting up each fund reduced by 75 percent per fund, AFW has sig-nifi cant business value.

Th e new system is also ex-pected to reduce errors and miti-gate operating expense charge-off s each year. However, the real ben-efi t of the application is increased client satisfaction, as it will allow new funds to be set up much more quickly, resolving a key issue many clients have raised when providing feedback to the company.

“Enhancing this critical com-ponent of our fund set-up process truly exemplifi es our employees’ commitment to continuously look for ways to improve our operat-ing effi ciencies wherever possible,” Nick Wright, senior vice president, Global Services UKMEA, said. “Th e individuals throughout the company who are responsible for making this possible embody our new corporate values, as we con-tinue to build a better State Street.”

INTERNALMATERIALS

OF

TOP50

2009

Cert no. XXX-XXX-000

INSPIREAWARDS

2

0

0

9

BRONZEO V E R A L L

INTERNAL COMMUNICATIONSCOMPETITION WINNER

STATE STREET WORLDa global Voice for a global company

PuBLIShER

hannah grove

EDITORS

kristie helms, hollye stigler

CONTRIBuTING WRITERS

Mike pincus

DESIGN

state street creative

GLOBAL CORRESPONDENTS

austraLiakate Fields, sally-ann parker

canadakellie thomson

chinaying Wang, Jean Xu

Franceolivier Faivre

gerManykatinka ackermann

hong kongtracy Wang

Japanyu sakakibara, tomoko yagyu

united kingdoMsharon auger, carine boutin, susannah Johnston, darren kilfara

united statesdianne gagne, dorrie holland, sarah Mccormack, regina Mcnally, kristen parsons, rick pearl, cara sullivan

CONTACT INFORMATION

kristie helms+1 617 664 8742

E-MAIL

statestreetworld@statestreet.com

online via company intranet athTTP://STATESTREETINTRANET

State Street World is an internal pub-lication of state street corporation, published regularly by global Market-ing and distributed to every company offi ce across the globe. For more news from our offi ces around the world, re-gional editions of State Street World are also available online.

this publication and all of its con-tents are the property of state street corporation. no part of this pub-lication may be used without the expressed consent of the company.

State Street World is printed on 100% recycled paper.

STATE STREET GLOBAL ADVISORS TO ACquIRE BANk OF IRELAND ASSET MANAGEMENT

Dublin will be added as SSgA’s 10th investment center worldwide from which client assets are managed.

Chris Johns, BIAM’s interim CEO and chief investment offi cer, will become chief investment of-fi cer for the SSgA Fundamental

Active Equity team and CIO for State Street Global Advisors Ire-land. Peter Wood, BIAM’s chief operating offi cer, will be managing director of SSgA Ireland oversee-ing all non-investment functions including sales, marketing, and the various support teams.

continued FroM p. 1

BEST OF BuSINESS

Automated Fund Workfl ow (AFW) Signifi cantly Reduces Fund Set-Up Time

rePort sHoWs commitment to corPorate citiZensHiP

STATE STREET’S RECENT EuROPEAN ACquISITIONS• april 1, 2010 – completed Mourant international Finance

administration acquisition

• May 17, 2010 – completed acquisition of intesa sanpaolo’s securities services business

• october 22, 2010 – announced agreement to acquire bank of ireland asset Management

State Street’s commitment to corporate social responsibility (CSR) is clearly refl ected in its annual CSR Report and Overview. Th e publica-tion covers State Street’s global CSR activities and performance, high-lighting the company’s impact on its various stakeholders, including shareholders, clients, employees and their communities.

“I believe our focus on CSR helped us deftly navigate one of the most challenging years in the histo-ry of our company,” said Jay Hooley in his letter within the report. “We emerged from the fi nancial crisis in a position of strength because we continued to abide by our prin-ciples — focusing on the constitu-encies we serve, and serving them well. Our actions had a positive im-pact in a number of ways and have set us on course to a bright future.”

Th e report provides a compre-hensive review of State Street’s CSR initiatives and progress, while the 30-page CSR Overview off ers a more high-level perspective. To en-sure transparency in reporting, the publications were developed with teams across State Street and with a number of external stakeholders. Th e report was audited by an out-side assurance verifi cation team.

Among the company’s CSR highlights was the completion of the rollout of its Environmental Man-agement System (EMS) to all regions worldwide including data from oper-ations in the Asia-Pacifi c region. Th e revised EMS manual, which now refl ects the global nature of State Street’s operations, has evolved to a more strategic document focusing on risk identifi cation and mitigation.

Th rough its environmental sus-tainability initiatives, State Street also improved eff orts to reduce its carbon footprint by increasing the use of renewable energy resources, improving the way it tracks its im-pact on the global environment and raising awareness of environmental issues at a grassroots level.

For example, State Street’s re-newable energy purchase in North America represented the equivalent of 50 percent of its electricity con-sumption in Massachusetts, and it achieved renewable energy sourcing of 69 percent of Ireland. Its 2010 goal is to reach 20 percent renew-able energy sourcing in Europe, the Middle East and Africa.

Another key area of focus is State Street’s community giv-ing and volunteer initiatives. Last year, grants from the State Street Foundation totaled $15.8 mil-lion, while employees volunteered 72,000 hours through the Global Outreach program.

In addition, the company spent $3.7 million in commu-nity event sponsorships, and it matched $1.7 million in employ-ees’ charitable gifts through the Matching Gift Program, which was expanded to Belgium, France, Italy, Luxembourg, Poland, Qatar, the Netherlands and the United Arab Emirates.

To learn more about State Street’s commitment to corporate citizenship and its CSR accomplish-ments, visit www.statestreet.com/csr to download a copy of the CSR Report and Overview.

“this new application allows users to set up a new fund on mcH in minutes, as opposed to several days under the old system.”

– michael brager

PAGE 3STATE STREET WORLD – ISSuE 03, 2010

DAY IN ThE LIFE

securities finance — international equity tradingit’s 6:45 a.m. in boston when

Jon Whiting, vice president, secu-rities Finance, arrives at his desk. he reads through market data and updates from other state street trading desks across the world, jotting down specifi c names, in-dices, markets and other key information to support the inter-national equity trading group’s borrowing and trading efforts on behalf of its clients that day.

Meanwhile, it’s almost noon in London, where Jamila Jeffcoate, managing director, securities Fi-nance, and her team are lending positions of value available in their books to the european borrow-ing community. Five hours ear-lier, they had liaised with the asia trading desks in hong kong, syd-

ney and tokyo, managed by paul york, managing director, as they handed over ongoing trades and negotiations with borrowers from their respective day.

state street’s international equity trading group never sleeps. armed with a global team of highly trained and experienced traders, the group lends equity positions owned by various institutional cli-ents to other fi nancial institutions looking to borrow these holdings for any number of reasons. by lending the shares for an agreed upon basis point return, the group adds value to the portfolios of the asset managers it serves.

“broadly speaking, what we do is aggregate the assets of our clients and lend these positions to

broker-dealers, investment bank-ers or other borrowers that need the position to cover the sale,” said Jim Mcdonald, senior vice presi-dent and global head of trading. “our people on the trading desk speak to borrowers around the world to determine where the de-mand is and what we have to lend before coming to an agreement.”

securities are lent at a fee that’s determined by supply and demand, price volatility and vari-ous market factors, such as merg-ers and acquisitions activity. the fee is split between the agent (state street) and the client. Most loans are collateralized at 105 percent of the loan value of the security to protect against mar-ket volatility or borrower default.

Loans are marked to market daily to ensure a margin is maintained.

“With the exception of voting rights, all corporate action entitle-ments are protected in the same way as they would have been had the securities remained in the client’s custody account,” ex-plained Jeffcoate.

Most funds within the securi-ties lending program are custodied at state street, but the group also lends on behalf of clients that use other custodians for safekeeping of their assets. demand for the group’s service is 24 hours a day, with the boston and London desks trading the entire scope of the international equity supply, while other locations are more dedicat-ed to regional demand.

“one of the key factors that differentiates state street versus its competitors is its unparalleled live fl ow of information. When any deal breaks or price affecting news is released we are able to communicate with our respective desks around the world in sec-onds,” explained york.

by trading multiple asset classes to approximately 450 lend-ers and 140 borrowers in more than 30 markets, state street is well positioned for the future.

View photos of each of the global teams on the intranet un-der the “Our Company” tab > state street World.

LONDON – “during a stock loan transaction, clients retain all rights and obligations connected to the security and have the freedom to recall the stock should they wish to sell at any time.”

– Jamila Jeffcoate

hONG kONG – “in the last few years, many hedge funds have domiciled themselves in hong kong and it has become a hub of trading activity for all asian emerging market trading strategies. While the core markets include hong kong, singapore, korea and taiwan, we are also well positioned to capitalize on any developments and future growth in markets such as china and india.”

– Jason Wells, assistant vice president, securities Finance, hong kong

TOkYO – “Japan is one of the largest and most highly capitalized equity markets in the world with more than 1,650 securities traded in the tokyo price index. the trading team must be innovative in order to maximize the returns of our clients.”

– Matt thomas, vice president, securities Finance, tokyo

TORONTO – “because business is directly impacted by position adjustments, the trading group has regular contact with custody, client services and corporate action groups. We also help price new portfolios, assist with the rFp process, work with the settlements area and operational teams, and assist with reconciliation queries related to trades.”

– charles Murray, vice president, securities Finance, toronto

BOSTON – “in general, each global desk uses the same systems and resources, ensuring continuity in the product we deliver to our clients.”

– Jon Whiting

SYDNEY – “in australia a key aspect of our role is to manage our inventory of both on-shore and off-shore (i.e., non-australian) lendable securities. one of many requirements on the desk is our ability to help raise australian dollars from lending our domestic australian supply of australian equities .”

– pete Martin, vice president, securities Finance, sydney

PAGE 4 STATE STREET WORLD – ISSuE 03, 2010

People’s general apprehension toward public speaking is among the inspirations for the success and popularity of Toastmasters at State Street. With 11 chapters across the globe, State Street is recognized as a leading Toastmasters-friendly organization, receiving several ac-colades and achieving a number of milestones over the past year.

“Toastmasters is a supportive environment designed to help em-ployees develop better public speak-ing and communication skills,” said Heather Thompson, assistant vice president of Global Human Re-sources and a club executive officer for Toastmasters in Sydney. “It’s run by employees for employees, and we help each other conquer fears and other issues linked to speaking and presenting publicly.”

State Street received the Spring 2010 Corporate Sponsor Award from the District 31 Toastmasters and was featured in the March is-sue of Toastmaster magazine, dis-tributed to approximately 250,000 members, giving the company ad-ditional positive exposure for its in-volvement with the internationally renowned organization.

Toastmasters of Westwood (Mass.) was also recognized with the prestigious Select Distin-guished Club rating, while clubs in Boston, Back Bay and Australia each reached Distinguished Club status for 2010. Achieving such sta-tus depends on meeting member-ship quotas as well as having a suf-ficient number of members receive Toastmasters communication and leadership awards.

State Street’s first Toastmasters club dates back to June 1999, when “Street Talkers” was chartered in Quincy, Mass. Today, in addition to the four chapters in Massachu-setts, State Street clubs exist in New York; Sacramento, Calif.; To-ronto; Sydney; Paris; Dublin; and Hangzhou, with new chapters be-ing considered in a number of other State Street offices.

To help create continuity be-tween the clubs, an officer from each chapter participates in the State Street Global Toastmasters Council. Currently led by Tayana Johnson (Quincy), Ron Dagostino (Boston) and Julia Collinge (Back Bay), the council ensures that best practices are being shared, with more experienced State Street clubs offering support and mentoring for newer ones. The group recently held a multi-regional videoconferencing panel event, featuring senior vice presidents Joseph Acer and John Griffin, who are avid supporters of Toastmasters. Held in June, the discussion was broadcast to nine different locations, helping raise awareness of the ways Toastmasters contributes to personal success.

“As a result of the broadcast,” said Thompson, “we immediately received interest from London and Edinburgh to start local clubs.”

In June, State Street hosted a Toastmasters Leadership Institute (TLI), a role considered to be an honor and privilege in the Toast-masters community. Organized by Teresa Chick and held at the company’s Quincy campus, the event was attended by more than 100 officers representing chapters throughout the area. As sponsor of the training program, State Street was responsible for establishing the agenda, securing speakers and run-ning the TLI’s different education sessions. For many employees, par-ticipation is a way to complete the Global Inclusion portion of their Performance Planning and Review (PPR) goals.

“Imagine not feeling nervous when you get up to make a toast at a wedding, or to address your child’s class,” said Thompson. “Imagine looking forward to it. Toastmasters can make this happen.”

Toastmasters is open to all employees. To learn more, visit http://collaborate/globalinclusion/ networks/Toastmasters.

everybody’s talking about toastmasters at state street

state street received the spring 2010 corporate sponsor award from the district 31 toastmasters in recognition of its unwavering support of clubs throughout new england. Jayne donahue

As State Street continues its company-wide business transfor-mation, Corporate Audit is unique-ly positioned to make a significant impact on the organization through its own transformation. The group audits all of State Street’s business areas globally, interacting with ev-ery level of management, and has tremendous insight into all parts of the company’s daily operations. state street World recently spoke to Jayne Donahue, executive vice president of Corporate Audit, about the group’s plans to create a world-class operating model.

q. What is the goal of corporate audit’s transformation?a. our plan over the next three years is to transform corporate audit from a traditional, production-oriented internal audit organization to a more consultative, risk-focused internal audit organization that is actively engaged with our clients. our product offering will be broadened to focus not just on audits, but on proactively identifying and monitoring risks, periodically adjusting audit plans when risk profiles change, providing advisory services to help our clients build controls into their new processes, and adding value to the overall governance process of the organization.

q. How will active engage-ment help corporate audit achieve these goals?a. active engagement means going beyond the traditional audit role of issuing an audit report and returning several years later to judge whether improvements were made by management. instead, it means that after making clear recommendations to improve the

company’s system of internal controls, the auditor proactively, maintaining impartiality and an independent mindset, brings his/her expertise to the table to be sure that effective changes are made.

q. What needs to happen for this transformation to occur?a. our strategic plan is organized around a number of key objectives that will enable corporate audit to evolve into a highly engaged, best-in-class internal audit function.

First, the roles and responsibilities of corporate audit need to be clearly understood. as such, earlier this year we published a charter that addresses our objectives, scope, authority and responsibility, and lays the foundation for our transformation. We need to review our structure to ensure that it is responsive to our new approach. We need to proactively engage and expand our global professional staff to allow us to deliver a full range of audit services in an effective manner.

We need to move beyond a static, cyclical audit approach and adopt a continuous, comprehensive approach to audit and risk assessment. We need to redesign internal and external reporting to provide greater information and value. Finally, we need to deliver all of our services with uncompromised quality.

q. What new products and methodologies are involved in the process?a. our plans involve introducing new audit methodologies and other products, including limited-scope audits, control design effectiveness reviews and continuous monitoring techniques. this summer we introduced an enhanced risk-based audit methodology designed to better align the audit scope and testing with the true risks in the business. in addition, we began piloting new audit products such as integrated business and information technology audits and horizontal or “themed” audits to address risks that transcend individual business areas.

q. What other initiatives make up corporate audit’s transformation plan?a. as part of our strategic plan to become a world-class corporate audit function, we must increase engagement and convergence with other corporate assurance functions to promote a holistic organizational view of risk, and build more effective partnerships with business area management through regular engagement and meaningful discussions of risks and issues. We will establish a predictable process that facilitates a continuous flow of relevant risk information that can be used to build a responsive and dynamic audit plan. We will empower our auditors with the appropriate flexibility to choose the right audit product at the right time. We will introduce and leverage new technologies to streamline internal audit processes, create efficiencies and improve information sharing. and, most important, we will provide staff with the leadership, coaching and training to make this approach part of corporate audit’s new dna.

q. What will the future corporate audit look like?a. our goal is to make corporate audit a more collaborative organi-zation, while still challenging and probing the risks and processes in our business. We will have deeper knowledge of business areas, including their culture, key players and competitive environ-ment. and, we will have increased involvement and integration in the governance structure of state street as a whole. state street’s internal auditors of the future will not stand at the sidelines; rather, they will be fully engaged in helping management achieve its business goals, while main-taining impartiality and an independent mindset.

quESTIONS & ANSWERSCORPORATE AuDIT TRANSFORMATION WITh JAYNE DONAhuE

PAGE 5STATE STREET WORLD – ISSuE 03, 2010

SERVICE ANNIVERSARIESCONGRATuLATIONS TO COLLEAGuES MARkING SIGNIFICANT SERVICE ANNIVERSARIES IN JuNE, JuLY AND AuGuST:

JuNE

10 YEARS

AuSTRALIAanne Mcgarry Meharpal singh

CANADAcarl bangdenis couillardrobert dziobonnicole hongVicky Wu

ChINAsun-ting chuon-kei Lo

GERMANYnicola Mcconville angela stefania

IRELANDadora o’neill natasha persadJanine scott

JAPANtomoko Fukudayoshie hommaFrancisco Jaro Jr.alan Leung

LuxEMBOuRGdimitri brunwasserFranck conzelmannbouchra hmaniregis Lottiana Malacuera alonso

uNITED kINGDOMJohn bervenkaren duffy catriona FallasMandy gardnerdarren helsbypaul Lawrencegareth Lloydtom pool Louise taylor karen thomson

uNITED STATESJan adamsLouis amaru bill appletonanil arastimothy banachdonna biaseric bittnerchristopher boencharles bohnerMark botelhoholly braga William brandtphilip bridge Michael bronshteynnancy brooksbill brownMarcia brown-brissettelizabeth buccafuscaJohn buckley iii

Matthew burton eileen cameronbrian cavanaghcynthia chanMichael chentracey chipegothomas clementJanet corvinoMartin croakartur cruzJoseph d’angeloMadonna davisJennifer dickeyandrea dineentracey donovannatalie dyckesdavid dyckmankevin ebertJoseph eliasgeoffrey emeryantoinette eversleyeric Ferrispatricia J. Fitzgeraldalexandre Furtado dianne gagnecharles garritysara gastineaubrian gatticatherine germangary gesinadriana giulianoQing guoMaureen harrisMegumi haseyamaJennifer heffernandaren hoMiranda hoMatthew hookgregg howardLiying huangMarc JacksonWilliam Jacksondax Johnsonpaul M Joseph Jr. david kabilianrebecca kebedekristen kennedyJacklyn knausJennifer kuzmeskasrobert LeblancWilliam Leesean Lussierdonald LustigLeith MadeirosJennifer Malekirsten MantegariJoseph Maurertimothy Mccarthypia Mccuskergerald McVeighrobert Moles andrew Munceyhuy nguyenkimberly nguyenbrian northphilip oberzanchristoper o’brienshelley o’haragunjan pandyaMaysa penh

Jason petrarcakim phanViviane pophilip pryharskiJonn-paul rabideaustephen rileytrisha rodneyisay sasunovMichael shawkhadro shirdonMatthew simoni Matthew steinawaytodd stewardamanda swansonJeffrey a tibbettskathleen tobinkim trananthony twymankenneth Varnum Jremir Velagoshtibrandon Waggonerthomas Wheeleramanda WongJerry youngMary Moran ZevenZong-Fei Zou

15 YEARS

CANADAstephen bakerdarcy Forsterkent patterson

ChINAkim-ho Wong

IRELANDJoan bray

uNITED kINGDOMisabelle chaudronpeter gordon

uNITED STATESheather boehmecarmine cavalieroscott deanerobert dittmarrachelle duffMai duong-ciolfitheodore gekassheila grassanovichdavid hunt Lee ann JennerJay LadieuJohn Looneydavid Merandokevin Miller James Mitchesonalla nasmanstephen rothwellMichael swetz Jrthomas toddMamy yim

20 YEARS

ChINAsteven chang

LuxEMBOuRGJaved khan

uNITED kINGDOMeleanor innesanthony Lewis

uNITED STATESVincent baldistephen cahalinkim culhanepaul curtin Lisa dillahuntkaren drahozalsamuel Fieldstefan gavell Joseph hasenfusanita kwokdeborah Morantrong Q pham Mario rangelann Marie Vinciguerrapaul Worden

25 YEARS

ChINA peter o’neill

uNITED kINGDOMeileen Mulgrew

uNITED STATESrobin parsonssusan politanoMark sontag

30 YEARS

uNITED STATESbeth kenavansoi chon kyinancy Loucksdonald Mackinnon Jr.William simsbonnie smithJocelyne Volmar

35 YEARS

uNITED STATESdonna curran

JuLY

10 YEARS

AuSTRALIAVt alaganarkim gilbert

CANADAtony beaulacsteven kozlowiczstephanie Leeeric newmanJoanne pesantJacqueline ramirezcarmen yiu

ChINAMichelle ipkwan-Wing tam

FRANCEbabacar bastéphanie Lorenzetti

GERMANYkarin godl

IRELANDthomas bleaheneger cassidy

ITALYFilippo gramegnarobert Vuskovic

JAPANnobuya endo

LuxEMBOuRGbenedicte delvauxLaurent dolisyheike gaspertania Zinelli

uNITED kINGDOMJane burleighiain caindenis dollakuMartin ormistonalan palmer

uNITED STATESrussell abramsJosephine atendaniel beaudryadam bedizedward berbineJason bordenthomas boyddennis cappottoLarry carlsonalyssa castonguayJessi chanrosita chang-hugheshuan chenXiu chenJames chirieleisonJohn christieshawn clarkbrian clarkeJudy cleardavid cornell JrMichael currynoreen curtinchristopher davidsonpeter debruin kevin derenMichael desjardinskimberly dinsmoreJames Fagan barbara Farrellkevin Farrellnatalya Fedorovatim FinocchioJudith Foxerin gibeaultgrace gogginJohn greenedavid hallLisa hamelheather hamleteileen hayesgregory healystephen herreraJames hoganJulie hogan

howard hurlichdana ilardisuzanne JohnstonJennifer keefeabrar khancharles knorrtodd kronerdavid kurthMatthew Launhelise Leblancserafin Lim Jrterence Lynchian Macgregornicholas Mavrosusan Mcgonagleian MckayLaurie Millerdennis MirandaJoseph MonteforteJack Mullaneemily MurrayVivian J ngtuan ngoJade nguyentuyet nguyenamanda northropdaniel parker kevin patroliaLewis pearlsonJose perezamy petersonamy phanLien phanMichael pizzideric pollesLen robinsonyue ruanhassan samikimberly santosLorraine schneiderrobin schuberteric schultterrance scotteric selfandrea sharpJames smithdanielle sorensenchristopher sorensenpeter stefanskiJoseph sweeneycarmen tai-chanrobert tobinthomas traceyMargaret turnerdavid Westcottpamela WisunLisa Wongkaydia WorrellJenny XiaoFung yunganthony Zaisersean Zinser

15 YEARS

AuSTRALIAJeffrey kaysimon sukhaseume

IRELANDWillie Fogarty

TAIWANMichael chou

uNITED kINGDOM

alexander kay

uNITED STATESkaren alexanderLilia amaralscott bachanddomenica bottariJeffrey brownMichael chadzutkoVadim FridmanJohn hendrythao hongJill iaconosean kellygerard LabonteLisa Mageedaniel Mclemorealyssa MelloJohn a. Millerrenita Murphypui sze ngrobert g. novellanoJeff olavethomas serventhomas shea iiiLinfeng songJohn stankardMarc turcottescott Wheelerbart Woodson

20 YEARS

AuSTRALIApatrick pang

AuSTRIAsabine Wahl

LuxEMBOuRGMarie-brigitte gerard

uNITED kINGDOMgill goodacreruth Mccormack

uNITED STATESphilip aswadJulie avilesJames benningerJennifer burnsbruce caritoJanet dionLawrence doyleMary dwyerrobert eatonLuda Filyurindeborah healyMaria iwanechkoJames keenanscott kenneyMaria kerriganMaureen MaddenLinda Mikschkathleen rosa-haigJeanne taylorJames tolandpriscilla yeung

continued on page 6 >

PAGE 6 STATE STREET WORLD – ISSuE 03, 2010

SERVICE ANNIVERSARIESCONGRATuLATIONS TO COLLEAGuES MARkING SIGNIFICANT SERVICE ANNIVERSARIES IN JuNE, JuLY AND AuGuST:

25 YEARS

IRELANDdavid Law

uNITED kINGDOMdavid chicoineJackie Johnstone

uNITED STATESJoe acerLuisa albertidavid barrytimothy beebesusanna chankathleen dalychaitanya divatiabehrooz goodarzdiane JohnsonMei Leedeborah McLaughlinrobin o’neilrobin ribokasnelson russell ii

30 YEARS

uNITED kINGDOMLinda neil

uNITED STATESsusan Mccuskerchris MeyersLawrence tobin

AuGuST

10 YEARS

AuSTRALIALinda brewJonathan shead

CANADAdexton blackstockrobert knowlesanjuli Varma

ChINAsiu-tik chongsze-Ming chui

FRANCEanne-catherine chaidron

GERMANYelke pugacz

IRELANDalison Morey Lisa Wehrley

JAPANyoshinori aiharayuka kumakurasuresh kumarkiyomi nishimuraayano sannomiya

LuxEMBOuRGanne corteseabderrazak haninistephanie reiser patricia romito-ciccotelli

SOuTh AFRICArushana Watson

uNITED kINGDOMasli bagcidarren banksJohn campbellkeith crawfordkaren Fullerstacy hayzelden

glenn Leachdouglas Mcinnesblanca MedinaJohn philpotVathoulla sullivanJohn sutherland

uNITED STATESJulia alvarezrosa andradekeri archambaultdonald barryshannon blakekurtis boehmbethany bottoLee bousquetJohn brownsordJoan buckleygeorge canzonere robert carrLinda carriggryan caseypasquale cerasuolo Jrsteve charlotcourtney chauLouis cheryJason corbin christiane cormerais- badrikiansamuel coxMelissa curlanisMichael dalzellMarilyn davisVicki davisJennifer dayderek diazJohn dohertypatrick J. dugganrebecca erilus

aldene erskineMary Fitzgeraldalexandre Furtadoalexandra garcianathan garryMichael goonanLisa graydeborah hartnerMark hausammannMark heightrobin howardsusanne howarthdale hugheskeith Johnsonkatherine JonesWilliam Jurgelewiczalexander kontoleonshuk Lamstephen Leeanna Leesheryl Lewisahren LippmanLi Liuelliott Lowedavid Macpheegopalakrishna MaddipatlaMelissa MartinMargarita MassMelissa MatosMeredith Mccaffertytimothy Mckerrowalyssa Mcneilerin Mundiebrenda MurrayLong nguyenkelly northupJoe ochoaMichael p o’connell

Michael papadakisJihye parkarthur payne iiiannMarie pentaMarie personnaMichael porazinskidavid poussardplamen prodanovMimoza protopamela psotasusan Quankevin roachscott rogersarnold rogers-beckleyscott rossMichael rumseyLouisa schermadereje shewangizawdennis smithrobert steffyrobert sytangco eric templinVictor thogodeMark thomanndavid thomas Jrpatricia troutshannon tuttlepeter Van Zandtdonna WadeMatthew Watsondonald Whittenkeith Williamskent Wurosa Zaytseva

15 YEARS

LuxEMBOuRGnorbert kohn

uNITED STATESMichael caffiJason demitropoulosJoseph donatobruce donnellypatrick donohoeLaura egglestondarlene FredaJoseph Fredriksenkarin hammondJoseph hollandMichelle r. noceraLisa nordbergnaishad pandyadavid smaltzJudith strauss

20 YEARS

AuSTRALIArose reddytroy Western

uNITED kINGDOMLesley abbott

uNITED STATEScatherine amateclare borettipatrick J. daceydouglas dikepamela engstromcarolyn Freemandennis Fritchmanstephen Matulischristine McdanielWilliam e. Monaghan iiMark MuziMichael o’connorstephen o’rourkestaci reardon

25 YEARS

GERMANYbirgit ofer

LuxEMBOuRGMechthild Wagner

uNITED STATESMichael carewJulie constantpaula d’amicosusan davenportJames kannallypeggy kiefer Minh LamMark nicholsonpatricia podlejskirachael riley

30 YEARS

GERMANYWalter Mader

uNITED STATESedgardo andraderosemary sheehangary J. yee

35 YEARS

LuxEMBOuRGpeter himmel

BY ThE NuMBERS

ON MY MIND

JEN DEMELLOassistant Vice president, Finance, sacramento

“We have had such a positive re-sponse to sacramento connect that staying engaged has been easy. seeing employees take part in ac-tivities and events is great. knowing that this network has created oppor-tunities for people to connect and network is exciting.”

JOëLLE EkOuLé-TEMATIOofficer, state street global services, paris

“global inclusion initiatives allow us to actively participate in the life of the company and to demonstrate the state street value, ‘stronger together.’ being able to work on projects such as the mentoring program or the paris speaker series that aim to improve the communication across the organi-zation is key to my engagement.”

NICkI ROBERTSONsenior associate, global human resources, kansas city

“i stay engaged by participating in global inclusion information ses-sions, volunteer events and employee networks. part of my job is to facili-tate training for new employees, so i also spend time sharing information with new employees about employee networks and other ways they can be involved in events at state street.”

ChuNFANG (ANN) ShAOsenior associate, production support, hangzhou

“i’ve been working with team mem-bers in the state street hangzhou toastmasters club. our goal is to provide a supportive and friendly platform where every employee has the opportunity to improve his or her public english speaking, communi-cation and leadership skills. i find it is truly interesting and helpful.”

HoW do you stay engaged?State Street recently conducted the third Global Opinion Exchange —our annual Employee Engagement survey. state street World also turned to four colleagues actively involved in Global Inclusion to ask for their thoughts on keeping engaged.

PAGE 7STATE STREET WORLD – ISSuE 03, 2010

GIVING BACkEmployees in Poland Teach Kids About State Street

INSPIRING POTENTIAL WITh ThE BOYS AND GIRLS CLuB

KRAKOW, Poland — In June, the Centrum Biurowe Kazimierz (CBK) office in Poland opened its doors to 20 underprivileged chil-dren and young teens, giving them a lesson in life at State Street, and maybe even a glimpse into their future. The Global Outreach event was part of “Children’s Day,” orga-nized by the Poland Community Affairs Committee, in conjunction with the WIOSNA Foundation and the Academy of the Future.

Volunteers acted as guides, explaining their day-to-day work, while engaging the young minds with interactive activities that in-cluded a computer demonstration, a technology presentation and a crossword game competition. A piz-za lunch was provided, and children left with a number of small gifts, in-cluding State Street-branded pens, calculators and water bottles. In ad-dition, State Street made a donation to the WIOSNA Foundation.

“The most rewarding part of the experience was the genuine smiles on the faces of the children,” said Katarzyna Szymczakiewicz, who helped organize the event. “It’s amazing how so little can cause so much happiness. We definitely need to continue to support and participate in such activities as of-ten as we can.”

The Academy of the Future is an ongoing, year-long educational program that supports children and teenagers living in underprivi-leged conditions. It is supported and sponsored by the WIOSNA Foundation, which is dedicated to helping individuals and families in Poland living in hardship.

Participants also extended their thanks to the primary organizer, Ewelina Parkitna, for the time and energy spent preparing for the event.

BOSTON, TORONTO TEAM uP FOR DRAGON BOAT FESTIVAL

volunteering is fasHionable at montreal HosPital event

MONTREAL — Sometimes volunteering comes with a dress code. That’s a lesson Sevastos Varva-kis didn’t mind learning while lend-ing his time to the recent “Just for Kids” Foundation’s annual charity golf tournament in support of the Montreal Children’s Hospital.

Sevastos, part of the 10-em-ployee volunteer team from the Montreal office, was on his way to help with the fundraiser’s hole-in-one contest, when suddenly he

was stopped from approaching the green. Apparently his socks, worn low with his stylish Bermuda shorts, did not adhere to the pres-tigious Laval-sur-le-Lac Golf Club’s “high” standards. Thinking quick-ly, a representative from “Just for Kids” headed to the pro shop and brought him back a pair of golf-friendly, polka dot-patterned socks that went up to his knees. Within minutes, he went from restricted to best-dressed on the course!

“Events and results like these make us proud to be employees of State Street,” said volunteer Cyn-thia Costigan, administrative assis-tant, State Street Global Advisors, who helped organize the Global Outreach event.

Other event volunteers were Stavroula Varvakis, Maureen Bell, Carmen Mau, Ka Ki Chan, Rani Alameddine, Emilia Di Maio, Edith Rathé and Mireille El-Asmar.

WatertoWn, Mass. — on behalf of state street, Joe antonellis, vice chairman, recently donated $50,000 to the Watertown boys and girls club. pictured (from left) are Lydia Lally, president of the Watertown boys and girls club; kelley Macdonald, senior vice president, investor relations and chair of the club’s board of directors; antonellis; and allen gallagher, the club’s executive director. part of the boys and girls clubs of america, the nonprofit organization works to inspire and enable all young people to realize their full potential as productive, responsible and caring citizens.

ka ki chan, Mireille el-asmar and Maureen bell took part in the “Just for kids” golf tournment to raise funds to purchase much needed equipment for the Montreal children’s hospital’s ambulatory services and dental departments.

BOSTON — Employees from Boston and Toronto joined forces to paddle three State Street teams in the 31st Annual Boston Drag-on Boat Festival, held along the Charles River in Boston.

Featuring Chinese arts, danc-ing, music and food, the celebra-tion is highlighted by the racing of traditional, brightly colored dragon boats, each manned by a drummer, steerer and 16 paddlers. The Boston

team won the gold medal in its divi-sion, while the Toronto team took the silver. For the first time, State Street also entered an all-female team with paddlers representing both Boston and Toronto.

through global inclusion and the chinese professional network, state street continued its long-time sponsorship of the boston dragon boat Festival, which transforms old traditions into an exciting sporting and cultural event.

PAGE 8 STATE STREET WORLD – ISSuE 03, 2010

take the World with you and send us a photo via STATESTREETWORLD@STATESTREET.COM.give us your feedback on this issue by visiting hTTP://STATESTREETINTRANET.

State Street World — printed on 100-percent recycled paper — continues to make adjustments to our printing and distribution process to ensure that we’re printing only the number of copies required to get you the news you need.

you’ll find copies located in several stand-alone communications kiosks deployed globally, as well as an online edition.

help us continue to make improvements by letting us know how we can better distribute copies of State Street World to you.

send an e-mail to statestreetworld@statestreet.com with your thoughts.

BECAuSE IT’S YOuR world

SCENES FROM AROuND ThE WORLD

stanLey, Falkland islands — James Lake, global human resources, state street London, reads what’s likely the only issue of State Street World in the area, just outside of stanley (far right background), the only true city in the Falkland islands, during a visit to the archipelago that lies 300 miles off the coast of south america.

Vers-pont-du-gard, France — david scott, of state street kansas city, and his wife, Megan, enjoy the flowing words of their World while standing in front of the pont du gard (roman aqueduct), a unesco World heritage site built approximately 2,000 years ago.

London, england — Mike barnard, uk Finance corporate tax department, prepares for his two-kilometer charity Fun run with a copy of State Street World. even santa knows what a wonderful world it is.

Mon state, Myanmar — guillaume pondaven, Fund services, state street Luxembourg, brings his World to kyaiktiyo pagoda, the “gravity-defying” golden rock that sits atop Mt. kyaiktiyo and is considered the third most important buddhist pilgrimage site in burma.

bangkok, thailand — Marc breitenbach of princeton Financial systems switzerland tees off with the World at krisda city golf hills in bangkok.

sapa, Vietnam — thomas poullaouec, state street global advisors in hong kong, and his kids discuss the latest World news with the locals during a recent trip to sapa, Vietnam.

WhAT WERE YOu ThINkING?

RESOuRCES

STATE STREET WORLD State Street World is an internal publication of state street corporation, published during the year and distributed to every company office. it is available in print and online to all employees at http://statestreetintranet under “our company” > State Street World.

STATE STREET WORLD PuBLICATIONS For more news from our offices around the world, regional editions of State Street World are also available on the corporate intranet.

SuBMIT ARTICLES to submit an article for publication in State Street World, e-mail statestreetworld@statestreet.com. your news item may be edited and will be published in the first available issue. please note that photos submitted for consideration should have a resolution of 300 dpi.

CONTACT uS employees are encouraged to submit questions, comments, sug gestions, and letters to the editor in e-mail to statestreetworld@statestreet.com.

10-stt05321210

global Mentoring features an online platform that puts you in control. it allows you to harness the power of networking both in face-to-face and distance mentoring relationships across all our businesses and geographies.

it also facilitates less traditional forms of mentoring — such as peer-to-peer mentoring and group mentoring, which caters to a group of employees with the same development goals.

Learn more and sign up to be a mentor or to find a mentor online at http://sshome.statestr.com/better/mentoring.html.

MEET YOuR MATCh