State Street Names Head of Sustainability: 4 Things To Know

Financial services firm State Street Corp. has named Jessica Donohue (pictured, top of page) as head of global investment insights, sustainability and impact.

Here are four things to know about Donohue and her role at State Street.

1. Business Scope and Scale: State Street, based in Boston, Massachusetts, ranks among the 20 largest banks in the United States based on assets. The company offers investment management, investment research and trading, and investment servicing capabilities. State Street typically serves asset managers, asset owners, alternative asset managers, insurance companies, pension funds and institutions. Revenue was $3.1 billion in Q1 of 2023, up 1% from the corresponding quarter in 2022. The company expects to announce Q2 2023 financial results on July 14, 2023.

2. Sustainability Strategy: The company's 2022 ESG report is here. State Street measures and discloses ESG activities according to frameworks created by the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the Global Reporting Initiative (GRI). 

3. Jessica Donohue's Role and Experience: Donohue oversees the company's sustainability efforts with a focus on delivering insights to clients and the industry, the company said. In addition, Donohue leads State Street's efforts to deepen relationships with chief investment officers at client organizations, the company added.

Donohue joined State Street in 2001. Her previous roles at the company include:

• Leading Investor Behavior Research at State Street Associates, the company’s partnership with academia, and then expanding her role to head this group.
• Chief Innovation Officer and Head of Advisory and Information Solutions for Global Exchange (now State Street Alpha).
• Head of Performance & Analytics for Investment Services.
• Most recently, she was the global head of State Street’s Asset Owner segment.

4. Executive Perspectives on Jessica Donohue: In a prepared statement about Donohue's new role, President, COO and Head of Investment Services Lou Maiuri said: “Being a strategic and trusted partner to our clients to meet their complex and changing needs requires us to continue to evolve our investment-related thought leadership and solution. Jessica’s background in research and investment-related insights, coupled with her deep understanding of clients’ unique challenges and the market overall is precisely what our clients need as we continue to deliver as their essential partner.”

New Sustainability Leader: Why Technology Partners Should Care

By 2027, 25% of Global 2000 companies will have assigned a chief sustainability officer (CSO) responsible for meeting their organization’s ESG goals and making ESG-related IT purchasing decisions, according to IDC.

Technology partners need to extend their sales, marketing, engagement and support strategies to successfully fulfill those CSO needs, Sustainable Tech Partner believes.