Gender Pay Gap Report

UK Gender Pay Gap Report

Read our 2024 Gender Pay Gap Report

Read our 2023 Gender Pay Gap Report

Read our 2022 Gender Pay Gap Report

Inclusion and Diversity

We strive to create an environment where our diverse backgrounds and experiences contribute to the success of our employees, as well as the success of the company.

Developing inclusion and diversity goals that cultivate this environment is a learning process and our approach continues to evolve. We focus on:

• Establishing our leaders as champions of inclusion and diversity to convey the importance and business value of a diverse workforce.
• Building a sustainable pipeline of diverse talent for leadership positions.
  
• Implementing a clear standard to hold leaders accountable for creating a diverse workforce and behaving inclusively.

Nurturing inclusivity also requires a strong framework for employees to connect and we do this through our employee affinity groups. Open to all employees, we have 24 networks with more than 110 chapters globally. In the UK these include UK PRIDE & Friends, Professional Women’s Network, Race and Ethnicity network, Families network and NextGen. They promote diversity awareness and education, offer volunteering opportunities, career development and cultural expression.

Everyone, at all levels of the organisation, has a role to play in helping to build and sustain a culture of inclusion and diversity.

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Corporate Citizenship

Active engagement in our local communities is one of our fundamental values. Through volunteering, employee engagement programmes and our grant-making arm, the State Street Foundation, we’ve supported the communities we operate in for more than 40 years.

Our Matching Gifts Program recognizes the charitable contributions made by our employees by monetizing volunteer time (DoMore), matching financial donations (GiveMore) and supporting individual fundraising efforts (CollectMore).

Modern Slavery Act Statement – 2021

Read State Street's Modern Slavery Act Statement for 2021.

UK Money Markets Code of Conduct

State Street’s EMEA securities finance team has signed the Bank of England’s, UK Money Markets Code.

The principles of the Code, which outline the standard and best practice of deposit, repo and securities lending markets, align very closely with our own business. By signing our statement of commitment to the Code, we take an important step toward rebuilding trust and integrity within money markets.

State Street’s signing of the Code is also particularly significant given the firms’ overall influence as a Global Systemically Important Bank.

State Street's statement of commitment is available upon request.

Women in Finance Charter

At State Street we believe our differences make us stronger, which is why inclusion diversity and equity (IDE) remains a key focus of all areas of our business. As a global organisation and leader in financial services State Street has the opportunity and responsibility to actively promote positive change in the IDE space. Fostering an environment that enourages authenticity, empowerment and a sense of belonging among our employees is essential to our success both internally and to our clients.

As we focus on actively driving progress towards greater equity and social justice within our business we encourage our clients to do the same. One example is our Fearless Girl campaign developed to draw attention to a simple truth that companies with more diverse boards perform better. We have advocated for companies to appoint more women as well as increase ethnic diversity to their boards since we launched the campaign in 2017.

We know that having a diverse workforce drives better business outcomes and therefore as we continue to grow, it is increasingly important that our business reflects the markets, clients and communities in which we operate. Goals are a useful tool to measure progress towards that outcome, enabling us to see the effects of our efforts to attract and retain talent. As of the end of our last multiyear goal cycle, we analyzed trends and recent achievements toward those goals and found that while we have made progress, gaps remain, particularly for representation of women, and African American/Black and/or Latinx/Hispanic employees of color.

We have updated our 2024-2030 multiyear diversity goals to include a few key enhancements:

• We are leveraging market data to inform and guide our goal-setting process, seeking deeper understanding of the talent pools available in each market relative to State Street’s current workforce and available opportunities across our global footprint.
• Our updated diversity goals now include established representation goals at all job levels from the early-career level, to our most senior level roles.
• We now have gender-based goals specifically for India and Poland, two of our fastest growing locations, establishing segmented goals for women in both countries.
• BIPOC goals can be further examined to show progress for African American/Black, Latinx/Hispanic, and Asian American Pacific Islander (AAPI) talent.

We will utilize these enhancements to advance our multiyear representation goals strategy and continually assess our efforts to respond to any changes in the workforce and transparently report on our progress.

Another way we are making progress is by continuing to lean into our 10 Actions Against Racism and Inequality. We developed these 10 Actions to confront inequalities and build equity into our workplace and business, paying specific attention to our talent pipeline of Black and Latinx employees and candidates. We are continuing to work toward full achievement of our goals and transparently reporting on our progress. In the coming months we will be working to establish longer term goals that include our broader representation priorities, and are inclusive of other dimensions of diversity

We understand the importance of having a diverse talent pipeline and have implemented plans to improve our efforts. Additionally, we have enhanced our diversity hiring processes to make progress toward our aspirational diversity goals. This includes having diverse candidate slates for MD and above roles, as well as having diverse interview panels.

Our inclusive and diverse culture defines who we are. With employees around the world, we know that our differences are what make us a stronger company. We are committed to developing an environment that offers equal opportunities to individuals with distinctive backgrounds and unique perspectives.