BOSTON--(BUSINESS WIRE)--

In recognition of their support and leadership in the LGBT community, State Street Corporation’s (NYSE: STT) chief marketing officer Hannah Grove has been named to the OUTstanding LGBT Leading Ally Executives list for the second consecutive year and Steven Chan, managing director and regional head of regulatory, industry and government affairs, Asia Pacific, has been named to the Leading LGBT+ Executives List released today by OUTstanding in collaboration with the Financial Times. The lists recognize business leaders who are outspoken and unwavering in their support for LGBT people in the workplace and professionals who go above and beyond their day jobs to improve the working environment for LGBT employees. Grove placed in top ten on the list this year.

Grove serves as executive sponsor for State Street Pride and Friends, the company’s LGBT employee network and has championed diversity and inclusion policies since she first joined the company in 1998. State Street is a member of and contributes data to Stonewall, HRC, Out on the Street and Out and Equal, and has been an active supporter from a regulatory and policy perspective of equal marriage and transgender rights globally.

“I’m honored to be recognized again as an ally,” Grove said. “Now more than ever, culture is an essential ingredient for a company’s success. Creating an inclusive environment for our employees isn’t just the right thing to do - it’s the best thing for our business. I’m also thrilled to be recognized alongside my colleague Steven, for the great work that he and our State Street Pride and Friends do globally.”

As co-chair of State Street’s Hong Kong LGBT Pride Network and Global Inclusion Council, Chan has successfully worked with human resources and senior management teams to implement and extend health insurance and dental benefits for domestic partners for more than 600 employees in Hong Kong. He also effectively advocated targeted LGBT specific training for senior and mid-level management, human resources staff, and general employees, helping to address unique cultural, religious, and social challenges for LGBT employees in the workplace, and coordinated the launching of State Street’s LGBT Global Ally Program, which aims to create a more inclusive workplace.

“Leading businesses today encourage and embrace diversity, knowing it yields a more engaged workforce and a more inclusive and innovative culture,” said Chan. “I feel privileged to work for a company that embraces this philosophy, and it’s immensely gratifying to play a role in raising awareness of and celebrating diversity at State Street. I share this honor with all of my colleagues in Asia-Pacific who champion for diversity in our workplace.”

OUTstanding, a not-for-profit professional network for LGBT executives and their allies first published the Leading LGBT & Ally Executives List in 2013. The list has since expanded and includes past honorees like Virgin Group Founder and CEO Richard Branson, Barclaycard CEO Valerie Sorrano Keating, and Facebook Founder and CEO Mark Zuckerburg.

“Large corporations have the power and influence to promote LGBT+ inclusion and pave the way for real societal change around the world,” said OUTstanding CEO and Founder Suki Sandhu. “By recognizing the impact of those who are leading the charge, the OUTstanding Leading LGBT+ & Ally Executives and LGBT+ Future Leaders Lists continue to inspire both businesses and individuals to drive LGBT+ equality forward. OUTstanding exists to challenge the assumption that you cannot be out and successful in business, to create role models that will inspire the next generation of business leaders and to encourage companies to use their far reaching voices for good.”

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $27.78 trillion in assets under custody and administration and $2.3 trillion* in assets under management as of June 30, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.

* Assets under management were $2.30 trillion as of June 30, 2016. AUM reflects approximately $40 billion (as of June 30, 2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.

CORP-2316

© 2016 State Street Corporation - All Rights Reserved

State Street Global Advisors, One Lincoln Street, Boston, MA 02111-2900

Expiration Date: 10-31-2017

View source version on businesswire.com: http://www.businesswire.com/news/home/20161025006092/en/