01/11/2021 | Press release | Archived content
As we continue to learn more about the assault on our Capitol on January 6, it has become clear that these attempts to subvert our democracy are much broader than the horrifying events of that day. The culpability for this untenable challenge to our Constitution and American values goes beyond the criminals that attacked our Capitol, and falls to a number of our elected leaders as well who, in effect, perpetuated the lies and untruths about the outcome of the 2020 presidential election.
While we are respectful of and encourage diverse political beliefs, any attempt to overturn the results of a legitimate election subvert the very system in which we live and conduct business and must be universally condemned. Our democratic system is an idea and an ideal that relies on the rule of law and the peaceful transition of power to sustain itself.
State Street will not support lawmakers or candidates who demonstrate views or engage in activities that are intended to undermine legitimate election outcomes. As a result, our Political Action Committee (PAC) will not contribute to lawmakers who supported last week's efforts to undermine our democracy. Additionally, we will establish a process to evaluate contributions prospectively to ensure we are not supporting any candidate whom we believe are subverting the core democratic principles of our Constitution, especially election outcomes.
We call on all of our country's leaders to come together, reject this violence and preserve the foundations of our democracy in order to serve the American people and unify these United States.
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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 $36.6 trillion in assets under custody and/or administration and $3.1 trillion* in assets under management as of September 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of September 30, 2020 includes approximately $81 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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