Walden Asset Management & Benedictine Sisters Call for Chairman / CEO Split at State Street

Harking back to an idea first proposed by dissident whistleblowers in 2000, Walden Asset Management and the Benedictine Sisters of Mount St. Scholastica are calling for the roles of Chairman and CEO to be split at State Street - duplicating, in substantial part, a shareholder proposal introduced this year by Patrick A. Jorstad.

Both WAM and the Benedictine Sisters also call attention to additional corporate governance concerns, detailed below.

It appears that the Directors and Officers of State Street have garnered unwanted attention from institutionals - in large part over the draconian measures that Ronald E. Logue took at the 2006 AGM.

State Street Faces Additional Client Lawsuits/Probes; Forced to Settle

Details are available in the sttLitigants section, to the right. Note the LitigantLinks of Note in that section, for law firms pressing additional cases against incumbent management - with the help of brave whistleblowers, providing concrete data.

sttPressCenter Joins the Family!

Look to the menu at the right.

sttChat joins the family!

Serious investors - tired of the yahoos on Yahoo! (and wise to the fact that STT's senior management pollute the discussion of facts there) - are invited to apply to join sttChat.

This new forum is meant to supplement Yahoo! (which is a fantastic tool), and we hope to see many sttChatters on Yahoo! as well.

State Street's Board of Directors Ignores Key Risk Factor in Their Own Midst

Rearranging deck chairs on the S.S. Clipper Ship, the Board of Directors today appointed one of their own as Chief Risk Officer.

State Street's clients and counterparties are probably watching these developments with some interest - and wondering: why did the Board of Directors ignore the biggest risk factor of all, right in their own ranks?

Will any of the analysts finally write the note?

sttLitigants Will Undergo a Major Rework by Next Week

Meanwhile, please see the latest there.

Note the New Poll Feature

Since we're in the lull leading up to Pennsylvania - where State Street's PolPals will be a factor in the race - we thought a straw poll feature would help scratch an itch for the politically-inclined. Scroll down the page, on the right.