State Street Announces ESG-Focused Partnership with Professor George Serafeim of Harvard Business School
BOSTON--(BUSINESS WIRE)--Mar 14, 2019--State Street Corporation (NYSE: STT) today announced a new partnership with George Serafeim, professor of Business Administration at Harvard Business School, to advance its research agenda in Environmental, Social and Governance (ESG) investing on behalf of its clients. Widely published and recently recognized by Barron’s as “one of the most influential people in ESG investing,” Serafeim’s research focuses on measuring, driving and communicating corporate performance and social impact as well as the practical integration of ESG criteria into investment management.
“George is among the world’s leading voices on ESG and sustainability issues,” said Lou Maiuri, State Street’s chief operating officer. “As with all of our academic partnerships, our focus will be on practical solutions that our clients can implement. What frameworks should investors use and how should they incorporate material ESG factors into their investment process? These are the questions we aim to tackle.”
State Street Associates ® (SSA), the company’s academic research arm, combines the worlds of financial theory and practice. SSA leverages data-driven insights to develop risk, investor behavior, sentiment and economic indicators for the owners and managers of the world’s capital. It also conducts research into the key practical challenges associated with managing institutional portfolios, including asset allocation, risk, alternatives, and investing for the long term.
“State Street Associates has a long history of successful partnerships with academics and an impressive track record of building intellectual capital and practical solutions,” said George Serafeim, professor of business administration, Harvard Business School. “I am excited about this opportunity to collaborate with State Street to move the ESG investing field forward.”
The recipient of numerous research-related accolades, Serafeim is widely cited in academic articles and journals and his research work is often covered by national media. Serafeim earned his doctorate in business administration at Harvard Business School and received a master’s degree in accounting and finance from the London School of Economics and Political Science.
State Street is committed to being a leader in environmental sustainability and governance issues, including finding new ways to help clients integrate ESG practices in pursuit of better investment outcomes including investment strategies, stewardship and data and analytics tools. As a company, State Street aims to be a responsible corporate entity by pursuing aggressive targets with respect to diversity, sustainability, and governance. For more information visit the websites of State Street and State Street Global Advisors.
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 $31.62 trillion in assets under custody and administration and $2.51 trillion* in assets under management as of December 31, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
* This figure is presented as of December 31, 2018 and includes approximately $32.44 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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SOURCE: State Street Corporation
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PUB: 03/14/2019 09:30 AM/DISC: 03/14/2019 09:30 AM