State Street Adds DonnaLee DeMaio to Its Board of Directors

State Street Corporation (NYSE:STT) announced the election of DonnaLee (Donna) DeMaio to its Board of Directors on Monday.

Ms. DeMaio, age 63, was previously executive vice president and global chief operating officer for the General Insurance division of American International Group (AIG). In this role she was responsible for all operational aspects of General Insurance globally, overseeing an organization of more than 5,000 employees, across five shared services sites in Asia, the United States and Europe. Ms. DeMaio held a variety of senior roles at AIG during her tenure, including overseeing global technology, global operations, procurement, real estate, administration, security, risk and control, project management, and transformation. She also served as chief auditor.

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Before joining AIG, Ms. DeMaio was president and chief executive officer of MetLife Bank, responsible for the company's seven business lines and leading 6,000 employees across 200 locations. Her responsibilities included building a risk organization to address all aspects of financial and operational risk for the company. Prior to MetLife Bank Ms. DeMaio was a partner at PwC specializing in financial services.

"We are delighted to welcome Donna to our Board," said Ron O'Hanley, chairman and chief executive officer of State Street Corporation. "She has extensive experience in highly regulated entities across the financial services industry, as well as deep global expertise. She has also provided strategic direction and leadership with results that span multiple regions, business lines and geographic locations, and we are confident she will be an invaluable asset to our Board."

Ms. DeMaio received her Bachelor of Arts degree, summa cum laude, with majors in accounting and business from Muhlenberg College in 1981. She is also a Certified Public Accountant. She currently serves on the board of Hiscox Ltd., a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange.

"Donna has a broad range of experience across the finance, technology, operations and audit functions, as well as proven leadership in driving strategy for various business lines and revenue centers," added Amelia Fawcett, independent lead director of State Street Corporation. "She will bring additional strength to our Board."

Source: Business Wire