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State Street introduces Hispanic Equity in the Workplace of Tomorrow Certification Program

It offers tools to help improve the conditions of Latinos and society in general.

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In the spirit of promoting State Street's 10 Actions to address racism and systemic inequality in America's workplaces, State Street, one of the world's leading providers of financial services to institutional investors, recently announced the launch of its Management Leadership for Tomorrow (MLT) Hispanic Equity at Work Certification.

This initiative, the first of its kind and inspired by the Management Leadership for Tomorrow's Black Equity at Work Certification, offers clear and measurable standards to try to achieve Hispanic equity in the organization and to contribute to its strengthening in society.

Eric Aboaf, vice chairman and chief financial officer of State Street, stated:

Our partnership with MLT on the Hispanic Equity at Work Certification will further our commitment to transparency, accountability, and action as we continue our journey to advance inclusion and diversity.

Achieving Hispanic Equity

Through this new Certification, which will provide State Street with a guide to assess workplace fairness with the same rigor as financial reporting or other core business initiatives, employers can learn to develop a rigorous plan through which 5 main areas are promoted. These include:

  • Hispanic representation at all levels
  • An inclusive and anti-racist work environment
  • Compensation Equity
  • Racially Fair Business Practices
  • Contributions and investments in racial justice

This Certification will provide State Street with guidance to assess workplace fairness with the same rigor as financial reporting or other core business initiatives.

“Although we are seeing progress made in addressing racial inequities across financial services, there is still much more work ahead. We continue to make meaningful progress through State Street’s 10 Actions to Address Racism and Inequality with the goal of promoting racial equity in our company, our industry, and our society,” added Aboaf.

State Street’s Strategy

The 10 actions to combat racism and inequality that the company announced in 2020 are part of the company's global plan to become a leader in promoting greater equality in the industry and local communities.

The organization highlights that its primary goal is to triple Black and Latino senior leadership and double the percentage of those populations at all levels of the organization by addressing development and advancement programs, governance models, community outreach, and philanthropy.

“We are proud to be an inaugural participant in MLT’s Hispanic Equity at Work Certification, which is the perfect complement to our work to be an industry leader in addressing racism and inequality. MLT is once again providing State Street, and other leading organizations, an important roadmap to help build a more resilient and equitable future,” said Paul Francisco, chief diversity officer for State Street.

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