The State Street Corporation (NYSE: STT) announced today the election of Brian Porter to his board.
Mr Porter has over forty years of banking experience and the service of institutional customers, including expertise in international banking, risk management, corporate banking and capital markets. Mr Porter previously served as President and CEO of the Bank of New Scotland (Scotiabank).
Mr Porter previously served as head of the team, international banking, the management of Scotiabank’s personal, small business and commercial banks in more than 50 countries. Mr Porter also served in other roles in the bank, including the head of the group, the danger and the treasure, the head of the leader and the head of world banking and markets. He began his career with investment dealer McLeod Young Weir in 1981, acquired by Scotiabank in 1988.
“We are very happy to welcome Brian to our council,” said Ron O’Hanley, President and CEO of State Street Corporation. “He has extensive experience in world markets with a strong emphasis on customers and a historical innovative leadership. In addition, Brian has a history of strategic supervision in various public councils and we are sure to be an invaluable advantage for our own.”
Mr. Porter received a Bachelor of Commerce from Dalhousie University and was awarded an honorary physician of laws from Dalhousie University and the Toronto Metropolitan University. He currently serves the Boards of Emera, a Canadian electric utility company, and Fairfax Financial, a Canadian insurance company. He is also chairman of the Board of Directors of Huron University at the Western University and chairman of the Board of Directors of the Atlantic Salmon Federation (Canada).
“Brian has invaluable experience that drives a large bank through a period of growth and change, as well as deep expertise in all financial, risks and capital markets,” added Sara Mathew, independent director of State Street Corporation. “Knowledge of the deep sector will complement the collective experience of our Board of Directors as it executes its supervisory responsibilities.”