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State Street Corporation

  

How to EnterCompany: State Street Corp, Boston, MA
Company Description: 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 $22.4 trillion in assets under custody and administration and $1.9 trillion* in assets under management at June 30, 2012, State Street operates in 29 countries.
Nomination Category: Sales Awards Individual Categories
Nomination Sub Category: Worldwide Sales Executive of the Year

Nomination Title: George Sullivan, EVP and Global Head, Alternative Investment Solutions Group

Tell the story about what this nominee achieved since the beginning of July 2011 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

State Street provides a comprehensive suite of middle office, fund administration, risk analytics and credit services to hedge funds, private equity funds, real estate funds and institutional investors. State Street's Alternative Investment Solutions (AIS) team has more than 3,000 employees in multiple offices around the world and is the No.1 servicer of alternative assets in the world.

George Sullivan is EVP and global head of state Street Corporation’s Alternative Investment solutions group. Sullivan is responsible for State Street’s hedge, private equity, offshore and real estate fund administration businesses worldwide. In the wake of the economic crisis, George has emerged as a though leader in regulatory compliance, transparency and innovation for hedge funds and alternative investments.

In his publication, FOCUS ON US REGULATIONS, George stated. “The profound and far-reaching implications of this new regulatory reporting regime… will enhance the role of the hedge fund industry as a transparent and stable component of the global financial complex.

Under George’s leadership

•In July 2011, State Street issued a Report: “Hedge Funds: Rebuilding on a New Foundation,” Funds must focus on investment strategy and performance, portfolio liquidity, portfolio transparency, new pricing and lockup periods, operational due diligence and the independence of custodians and administrators. Said George, “By hiring administrators to assume a range of services, including data management, asset class coverage and portfolio risk analysis, fund managers can concentrate on generating alpha and distributing investment products.”

•In July, State Street formed a strategic Alliance with UK’s InfraHedge. InfraHedge is a cost effective solution that allows institutional investors to utilize a managed accounts platform on a standalone basis, providing investors with significant flexibility alongside an independent governance and risk management infrastructure.

•In January 2012, State Street added private fund reporting capabilities for private fund advisers to its suite of reporting tools. Said George, “Clients can leverage our infrastructure and capabilities to help alleviate the administrative challenges they face and focus instead on growing their core business.”

•In May 2012, State Street launched an Open Protocol Enabling Risk Aggregation (OPERA) compliant reporting solution to ease the reporting process for hedge fund managers and institutional investors with hedge fund investments
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•In July 2012, State Street agreed to acquire Goldman Sachs Administration Services, a leading hedge fund administrator. “Alternative assets remain a strategic focus for State Street. We expect that GSAS clients will benefit from State Street's robust and flexible global servicing platform that is scalable for funds of all types and sizes” commented George. The acquisition will strengthen State Street's global leadership in hedge fund administration and will establish the company as the No. 1 hedge fund administrator globally.

•In 2012 George Sullivan was recognized by Irish America magazine’s Annual Wall Street 50 .

Going Forward

“Hedge fund managers and domiciles are working hard to adapt to changing regulations and investor preferences, making this an exciting time for both the hedge fund industry and the diverse centers where it is based.” Sullivan in a publication on Offshore Centers of Investing.

 

Provide a brief (up to 100 words) biography about the nominee:

George Sullivan is EVP and global head of State Street Corporation’s Alternative Investment Solutions group; the leading provider of services to the alternatives marketplace. Mr. Sullivan is responsible for the strategic direction, global sales, client relationship management, product structuring, and operations of State Street’s hedge, private equity, and real estate fund administration business worldwide.

Mr. Sullivan is Chairman of the Board of Directors of InfraHedge Limited , and a member of the Board of Directors of the Boston Private Industry Council. He is a graduate of Boston College, Class of 1982, earning a Bachelor of Arts degree.