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State Street Engages Women-Owned Broker-Dealers to Underwrite $500 Million of Senior Unsecured Debt

BOSTON , May 13 /Businesswire/ - State Street Corporation (NYSE: STT) announced today that it has issued $500 million of senior unsecured debt. The offering, which closed today, was structured in keeping with State Street’s ongoing inclusion, diversity and equity efforts, with R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC acting as bookrunners, and MFR Securities, Inc., Stern Brothers & Co., and Tigress Financial Partners, LLC acting as co-managers. These five broker-dealers are women-owned. Collectively, these broker-dealers have underwritten more than half of the debt securities in the issuance. The full underwriting syndicate also included Morgan Stanley & Co. LLC and Lloyds Securities Inc. acting as bookrunners.

This action reinforces State Street’s strong commitment to increasing diversity in the industry and empowering women-owned businesses, which is critical to the future success of the firm. This offering marks the fourth such issuance in under a year where the syndication has been structured under State Street’s inclusion, diversity and equity strategy, reflecting the firm’s continuing efforts to amplify the impact of Environmental, Social and Governance initiatives.

“State Street is committed to diversity and creating opportunities for women to demonstrate the significant value they add in an industry where they have historically been underrepresented,” said Ilene Fiszel Bieler, Global Head of Investor Relations at State Street. “Partnering with these women-owned broker-dealers is State Street living our values by creating more equitable opportunities,” Fiszel Bieler added.

“Seelaus is honored to participate as a Joint Bookrunner in this transaction for State Street that highlights the importance of supporting women-owned and led firms,” said Annie Seelaus, CEO of R. Seelaus. “Through this bond issuance they have shown their continued commitment to gender diversity in all areas of their business as well as allowed Seelaus to continue to fulfill our mission to elevate and expand the opportunity set for women in finance.”

“As the leading national women-and-minority owned investment bank, Siebert Williams Shank is extremely honored to have acted as a Joint Bookrunner (JBR) on this issuance, making it the second time this year we have served as a JBR for State Street,” said Suzanne Shank, President and CEO. “It was a privilege to work alongside State Street, and the rest of the banking syndicate, on this offering, which had a woman-owned focus, as State Street continues to advocate for diversity, equity and inclusion. We appreciate the opportunity provided as it allows firms such as Siebert to play a larger and more meaningful role and add greater value to clients and investors. Such opportunities allow for women-owned institutions to thrive in the financial sector. We appreciate the opportunity to continue to enhance our ongoing partnership with State Street.”

The $500 million offering of senior notes priced at the tight end of initial price talk areas and had a final orderbook that was almost eight times oversubscribed.

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 $41.7 trillion in assets under custody and/or administration and $4.0 trillion* in assets under management as of March 31, 2022, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at

*Assets under management as of March 31, 2022 includes approximately $73 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.

© 2022 State Street Corporation - All Rights Reserved

State Street Corporation One Lincoln Street, Boston, MA 02111-2900.


STORY TAGS: Massachusetts, United States, North America, Professional Services, Consumer, Small Business, Women, Finance, Consulting, Banking, Funding,


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