State Street Appoints New Chief Accounting Officer

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Jack Read as its new Executive Vice President, Global Controller, and Chief Accounting Officer, effective August 10, 2026. Mr. Read, aged 57, succeeds Elizabeth M. Schaefer in this role. He brings extensive experience from his previous positions at MSCI Inc. and Citizens Financial Group, where he held senior financial roles. As part of his employment agreement, Mr. Read will receive an annualized base salary of $450,000 and a target total incentive compensation award of $2,100,000 for 2026. Additionally, he will receive transition payments in the form of deferred stock ($1,730,000) and cash ($700,000).

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About State Street Corp

State Street Corporation is a prominent financial services and bank holding company. It plays a crucial role in the global financial infrastructure by offering services such as investment management, investment research, and investment servicing. Known for its extensive custody services, State Street holds the assets of various institutional investors, ensuring they are safeguarded and efficiently managed. Additionally, it provides comprehensive investment management solutions, encompassing strategy, research, and advisory services to a diverse client base including asset owners and asset managers. The corporation's influence spans across sectors such as mutual funds, retirement plans, insurance, and sovereign wealth funds. Headquartered in Boston, Massachusetts, State Street Corporation has established itself as a pivotal partner in both domestic and international markets, contributing to the stability and efficiency of the financial ecosystem globally. Besides its custodial dominance, the company is also recognized for its technological advancements in asset servicing, supporting clients with innovative tools and data solutions to optimize investment outcomes.