State Street Corp. (STT), a prominent player in the financial services industry, revealed on Tuesday that Eric Aboaf, its Vice Chairman and Chief Financial Officer, will be stepping down from his positions in February 2025. Aboaf has chosen to pursue a new career opportunity outside the banking sector.
The company has already initiated its succession strategy, embarking on a comprehensive search both internally and externally to identify a suitable successor. Aboaf will remain with State Street until February, working closely with the team to ensure a seamless transition.
Ron O'Hanley, chairman and CEO of State Street, commented, "During his eight-year tenure, Eric has consistently driven substantial financial and business achievements that have significantly benefited State Street. He has enhanced our finance function and improved business outcomes through the continuous transformation of our operating model and by building and nurturing a highly skilled team of finance professionals. This expertise has enabled superior business and strategic decision-making."
