trending Market Intelligence /marketintelligence/en/news-insights/trending/lg52nuugfa-tbr0fydgcma2 content esgSubNav
In This List

State Street's board requests easing of voting requirements

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


State Street's board requests easing of voting requirements

The board of State Street Corp. wants a majority vote to suffice when it proposes certain corporate actions — such as amending its articles of organization, authorizing voluntary dissolution, and acting on a merger or share exchange.

The company currently requires an affirmative vote from two-thirds of the outstanding shares.

Shareholders will vote on the proposal at the May 16 annual meeting.

State Street additionally disclosed a 2017 CEO pay ratio of 236 to 1. It paid Chairman and CEO Joseph Hooley $19.5 million in total compensation that year. The median annual total compensation of all other employees was $82,760.

State Street is the $238.43 billion-asset holding company of Boston-based State Street Bank and Trust Co. and State Street Global Advisors Inc.