“While we recognize we have much work ahead, State Street is proud of all of our diversity, equity and inclusion efforts to date. Pursuing DEI goals is not just a common good but also a business imperative. It helps us better understand and reflect our clients, stakeholders and the communities in which we work and operate. It is critical in terms of being an industry partner of choice and magnate for the next generation of talent. And diverse backgrounds, thinking and experience fuels innovation.”
“Inclusion, diversity and equity should no longer be abstract terms that companies use in a perfunctory way. These practices should be core to how all of our organizations do business, remain competitive and innovative while positively impacting communities. Our opportunities to succeed will be measured by our ability to maintain cultures where everyone feels that they belong, they matter and that they are treated fairly.”
From The Company
State Street Corporation is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading.
In 2020, our CEO introduced a three-year “10 State Street Actions” plan to address racism and inequality with a focus of enhancing our Inclusion, Diversity & Equity program by building more equity through our processes and policies inclusive of learning, hiring, and talent management.
We committed to the Management Leadership for Tomorrow Black Equity at Work (BEW) and Hispanic Equity at Work (HEW) Certification programs, establishing comprehensive racial equity standards. We executed against our BEW plan and became Bronze Certified and HEW plan approved in January 2023.
State Street publicly announced the launch of a Civil Rights Audit with the support and active engagement of our CEO, Board of Directors and senior executives. The Civil Rights Audit studied how our policies, practices, products and services have deterred and/or advanced civil rights for protected classes in the U.S. After the initial assessment, auditors will issue a report providing a blueprint for corrective action and proactive, equitable outcomes, and to ensure that structures are in place to implement civil rights changes and prevent future civil rights harms. The report is on track to be published in Q2 2023.
These work plans assist us in ensuring our 10 Actions and overall DEI initiatives are implemented to yield significant progress.