State Street Boston names David A. Spina chief financial officer and treasurer

Business Wire, Jan 20, 1995

BOSTON--(BUSINESS WIRE)--Jan. 20, 1995--Marshall N. Carter, chairman and chief executive officer of State Street Boston Corp., announced that David A. Spina, vice chairman, has been elected chief financial officer and treasurer by the board of directors.

George J. Fesus, who was chief financial officer and treasurer, resigned to pursue personal interests.

Spina, who joined State Street in 1969, served as chief financial officer and treasurer from 1977 through 1992 when he was elected vice chairman. He is responsible for the development of corporate management functions and oversees the integration of major support functions with the corporation's businesses. Spina is chairman of the Massachusetts Housing Investment Corp., a director of the Metropolitan Boston Housing Partnership Inc., chairman of the board of trustees of the Dana Hall School and a member of the Bankers Roundtable.

State Street Boston Corp. recently reported 1994 earnings per share of $2.68 on a fully diluted basis, up 15 percent from $2.33 in 1993. Net income was $207.4 million, up from $179.8 million a year ago. Return on stockholder's equity was 17.5 percent.

With $1.7 trillion in assets under custody and $160 billion under management, State Street is a leading servicer of financial assets worldwide. Services are provided from offices in the United States, Canada, Grand Cayman, Netherlands Antilles, United Kingdom, France, Belgium, Luxembourg, Denmark, Germany, United Arab Emirates, Hong Kong, Taiwan, Japan, Australia and New Zealand. State Street is traded on NASDAQ under the symbol STBK.

CONTACT: State Street Boston Corp.

George Russell, 617/654-3866