Appointment Reflects Priority to Achieve Digital-first Organization with Emphasis on Client and Employee Experience, Agile Innovation and Productivity
BOSTON–(BUSINESS WIRE)–State Street Corporation, (State Street), NYSE:STT today announced that it has appointed Brian Franz to chief information officer (CIO). Franz, who joins the Company in January 2020, will report to Chief Operating Officer, Lou Maiuri and become a member of State Street’s Management Committee, its senior-most strategy and policy making group.
Franz comes to State Street from Diageo PLC, a publicly traded multinational company, where he most recently served as chief productivity officer leading information technology, enterprise operations and business service functions across the company. Franz joined Diageo in 2008 as global chief information officer having served as CIO for PepsiCo International and in a number of technology leadership roles at global companies including GE (and GE Capital) and AT&T.
“We are delighted to have Brian join our team,” said Lou Maiuri. “He brings to State Street a unique combination of experience, knowledge and deep technology and operations prowess. He adds to this a strong focus on productivity and continuous improvement, at the core of which is a better client and employee experience. The CIO of the future needs to be as much a business leader as a technology visionary, and we benefit from both with Brian.
“His experience across both consumer and business-oriented brands, particularly harnessing the power of data and analytics to drive better client outcomes will also greatly support the continued advancement of our State Street AlphaSM platform strategy.”
Franz has deep experience in the deployment of artificial intelligence, machine learning and robotics to drive efficiency and effectiveness as well as to enable business growth and client satisfaction. During his tenure at Diageo he led initiatives that delivered more than £700 million in savings and advanced business growth, including implementing cloud powered, globally scaled and standardized solutions. Franz also has extensive cyber and resiliency experience.
“I am excited to join State Street and to help it realize its vision of being the world’s leading provider of asset intelligence to the owners and managers of the world’s capital,” said Franz. “This is a company that occupies a unique space in financial services and one in which there is much opportunity to differentiate through next-generation technology, high productivity and global scale. I look forward to making a positive impact and to leading a world-class team.”
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 $32.90 trillion in assets under custody and administration and $2.95 trillion* in assets under management as of September 30, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $44 billion as of September 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about roles, responsibilities and potential of State Street’s recently appointed chief information officer, including how he may support State Street’s strategies and business outcomes. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “priority,” “will,” “look forward,” “opportunity,” “expect,” “believe,” “objective,” “plan,” “strategy,” “anticipate,” “intend,” “estimate,” “seek,” “may,” “trend,” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements. Important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2018 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time that this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.
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