State Street Corporation has announced that Executive Vice President and Chief Financial Officer, Edward J. Resch, 60, has informed the company of his plan to retire in 2013, after more than a decade in the role, following the appointment of his successor and an orderly transition of the function.
'Ed has been our CFO during one of the most challenging times for our industry', said Jay Hooley, chairman, CEO and president of State Street. 'We are fortunate to have benefited from his unwavering dedication for the past ten years and, particularly, for his leadership during the recent critical period of the financial crisis. The timing of his retirement will enable a thorough transition process to his successor'.
State Street will conduct a comprehensive internal and external search for a new chief financial officer.
'I feel very fortunate to have worked as part of this management team over the past decade', said Resch. 'I look forward to being actively involved in the leadership transition of the finance function'.