State Street and the University of Massachusetts Amherst Announce New Career Development Program in Hadley, Mass

Eligible UMass students receive real-world workplace opportunities to supplement traditional classroom learning

BOSTON & AMHERST, Mass.--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) and the University of Massachusetts Amherst today announced the creation of a new career development program that creates skilled, part-time jobs for 100 students who will be based in a new office in nearby Hadley, Mass.

“We’re pleased to welcome these students from UMass Amherst to State Street and provide them with a unique opportunity to gain ‘real-world’ work experience in the financial services industry”

The UMass Amherst students will join State Street in a part-time capacity beginning this fall with responsibility for performing select back-office functions and supporting business lines across the company. State Street has opened a new office in Hadley to accommodate the student workers. The new program is open to sophomore, junior and senior students.

“We’re pleased to welcome these students from UMass Amherst to State Street and provide them with a unique opportunity to gain ‘real-world’ work experience in the financial services industry,” said Alison Quirk, executive vice president and chief human resources and citizenship officer at State Street. “As one of the largest employers in Massachusetts, State Street has a long-standing history of collaborating with many universities around Boston to help foster the state’s economic development and expand the students’ readiness to enter the workforce. We are excited about this new opportunity with UMass Amherst to further strengthen our ties with the Massachusetts university system.”

This new program expands upon a strong history between State Street and the University. In 2005, State Street established a strategic relationship with the UMass system by launching the State Street Scholars Program. State Street Scholars is a nine-month internship program tailored for students attending the University of Massachusetts Boston.

“We are thrilled to be expanding our relationship with State Street with the addition of this new program,” said Carol Barr, vice provost for undergraduate and continuing education. “We pride ourselves on helping our students find valuable career development programs, and a partnership such as this complements their academic course load and campus experience. State Street is a world-class organization that understands the value of investing in the next generation workforce. Providing our students with the opportunity to work with such an organization – in a location close to campus – will serve them well in their post-college careers.”

About the University of Massachusetts Amherst

UMass Amherst, the flagship campus of the University of Massachusetts system, is one of the nation's top public research universities with 25,000 students studying in the scenic Pioneer Valley of Western Massachusetts, 90 miles from Boston and 175 miles from New York City. The annual impact of UMass Amherst on economic activity in Massachusetts is more than $1.4 billion. The Amherst campus has more than 222,000 living alumni, and more than 110,000 of them live in the Commonwealth. www.umass.edu

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 $22.4 trillion in assets under custody and administration and $1.9* trillion in assets under management at June 30, 2012, State Street operates in 29 countries and more than 100 geographic markets. For more information, visit State Street’s web site at www.statestreet.com.

* This AUM includes the assets of the SPDR Gold Trust (approx. $66 billion as of June 30, 2012), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the distribution agent.

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