State Street

State Street scored high on board expertise, board size, and its CEO succession plan.   State Street’s board includes six former CEOs and two active CEOs—including its own, Ronald O’Hanley; and William Meaney, the president and CEO of Iron Mountain. DonnaLee DeMaio, former president and CEO of MetLife Bank, is also a board member. As one of the “Big Three” asset managers along with BlackRock and Vanguard, State Street (which has $3.9 trillion in assets under management) has been using its position to advocate for stronger diversity and sustainability measures across corporate America. In 2022, all of the Big Three have raised the bar for the companies in which they hold stakes, advocating for disclosures from “carbon intensive” sectors and increased scrutiny over climate-based proposals; they have also said they may vote against or withhold votes from companies that do not have at least one woman on the board or that fail to disclose demographic data. State Street has specifically said it might vote against an independent board director if a company fails to provide sufficient disclosure or progress on such issues.