State Street Announces Partnerships with MIT’s Antionette Schoar, Harvard’s Robin Greenwood to Advance Cryptocurrency and Macroeconomic Research Initiatives

Faculty Join State Street Associates, State Street’s Center for Academic Partnerships and Data Science

State Street Corporation (NYSE: STT) announced today that it has expanded its academic partnerships with the addition of two esteemed professors from top Boston-based business schools. State Street Associates® (SSA), the academic research and data science arm of State Street, will partner with Antoinette Schoar, a finance professor at MIT, who is joining in an effort to see clients through the risks and opportunities in the blockchain and cryptocurrency space. Robin Greenwood, a professor of finance and banking at Harvard Business School, also joins to advance research on a variety of topics, including central bank policy, equity investing, financial crises, and behavioral finance.

“Our clients continue to take a close look at the cryptocurrency space and increasingly think of it as an asset class. Professor Schoar has become a thought leader whose rigorous research is trusted by both academics and professional investors, ”said Will Kinlaw, Research Director for State Street’s Global Markets division, which includes State Street Associates. “We are also pleased to partner with Professor Greenwood, who brings a wealth of experience in a variety of investment topics of interest to our clients, such as central bank policy and equity investing. We are delighted to have both on board and are confident that their knowledge will help our clients better manage risk and take advantage of market opportunities. ”

As the Stewart C. Myers-Horn Professor of Family Finance at the MIT Sloan School of Management, Antoinette Schoar is an expert in corporate finance, organizational economics, and entrepreneurship. His current research focuses on the topics of business and consumer finance, and how new financial technologies are impacting those areas. In addition to the work it will do with clients in the blockchain and cryptocurrency space, Schoar will help apply the research findings directly with State Street Digital.

Launched in June of this year, State Street Digital was created to address the industry’s evolving shift toward digital finance. The new division builds on State Street’s previous digital capabilities and now includes crypto, central bank digital currency, blockchain, and tokenization. State Street’s GlobalLink technology platform is also a component of State Street Digital.

Additionally, Schoar is Co-Chairman and Co-Chairman of the NBER Corporate Finance group and is the co-founder of ideas42, a nonprofit organization that uses insights from economics and behavioral psychology to solve social problems. She has also been named one of the top 10 academics influencing the institutional investment industry by aiCIO magazine. Schoar has his Ph.D. in economics from the University of Chicago and a diploma in economics from the University of Cologne, Germany. Schoar is scheduled to speak on State Street Live on November 17 with a replay available later on the firm’s research platform, State Street Insights.

“Cryptocurrencies have quickly become popular,” commented Dr. Schoar. “This is an opaque market where the opportunities are not obvious and the risks are not well understood. At the same time, blockchain has the potential to bring new opportunities and applications for financial markets. I am excited to collaborate with State Street and its clients as they strategize to navigate these important trends. ”

Robin Greenwood, Senior Associate Dean for Research and Faculty Development at Harvard Business School, is also George Gund Professor of Finance and Banking, Anne and James F. Rothenberg Faculty Fellow, as well as Faculty Director of Behavioral Finance and Financial Stability project at Harvard Business School. Greenwood’s current research focuses in particular on “macro level” market inefficiencies, such as asset price bubbles and market foam metering.

In addition, Greenwood is a member of the Financial Advisory Roundtable of the Federal Reserve Bank of New York and a research associate in the National Bureau of Economic Research. Prior to his current duties, Greenwood was president of the Ph.D. in Business Economics. Head of the Program and Finance Unit from 2018 to 2021. Greenwood received a Ph.D. in economics from Harvard and bachelor’s degrees in economics and mathematics from MIT.

“State Street has a history of engaging with the academic community to advance research into real-world challenges,” added Robin Greenwood. “I look forward to working with the State Street Associates team and engaging with State Street clients to achieve better results.”

About State Street Corporation

State Street Corporation (NYSE: STT) is a leading global provider of financial services for institutional investors, including investment services, investment management, and investment research and trading. With $ 43.3 trillion in assets under custody and / or management and $ 3.9 trillion * in assets under management as of September 30, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit the State Street website at www.statestreet.com.

* Assets under management as of September 30, 2021 include approximately $ 60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) is acting solely as a marketing agent. SSGA FD and State Street Global Advisors are affiliated.

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