State Street (STT) CFO to Depart
State Street Corporation (NYSE: STT) today announced that Eric Aboaf, vice chairman and chief financial officer (CFO), has made the decision to accept a new opportunity outside of banking and is expected to leave State Street in February of 2025. State Street has commenced its succession plan with a formal internal and external search process and Aboaf will stay on and work closely with the State Street team into February to ensure an orderly transition.
“Over the course of the past eight years, Eric has continuously driven significant financial and business performance that has made a meaningful impact for State Street and I have very much enjoyed and valued our partnership,” said Ron O’Hanley, chairman and chief executive officer of State Street. “He has strengthened our finance function and business outcomes through ongoing operating model transformation and by attracting and developing an extremely talented team of finance professionals with deep expertise, which in turn has enabled better business and strategic decision making. Eric has played a key leadership role in collaboratively developing our strategic growth plan, which has been enabled by a culture of expense discipline that has driven consistent productivity gains, and in turn, significant re-investment in our business. I want to personally thank Eric for his leadership and wish him well in his new role.”
“It has been incredibly rewarding serving as CFO of a global systemically important financial institution. I am grateful for the opportunity to have worked with State Street’s impressive leadership team during my tenure,” said Aboaf. “State Street is well-positioned with its strong financial foundation and strategy for success, and I look forward to working with the team into 2025 during this transition.”
State Street also announced its third quarter 2024 results today. The news release, presentation and additional financial information can be accessed on State Street’s Investor Relations website, http://investors.statestreet.com. State Street will host a conference call to discuss the firm’s financial results and related matters at 12:00 p.m. ET today, Tuesday, October 15, 2024. The call will be open to the public.