Mr. McCrossan joined State Street in 1995 as president and chief executive officer of IFTC, a wholly owned subsidiary that provided custody and accounting services to mutual fund and insurance companies. In 1997, his role was expanded to include responsibility for State Street�fs client technology groups for investment servicing and insurance services in the United States, Canada and South America. In 1999, he launched State Street�fs Investment Manager Solutions business, the company�fs outsourcing venture that provides a full range of front- and middle-office functions. He also assumed responsibility for Global Operations, business project services infrastructure and oversaw the corporation�fs straight through processing and trade date plus one initiatives.

Mr. McCrossan came to State Street with 20 years of financial services experience. He completed his MBA in finance and international business at Fordham University, after which he held several posts at Citicorp. Prior to joining State Street, he held the position of division executive of Chase Global Securities Services based in the United Kingdom and had managed the North American Securities Services business just prior to his overseas assignment.