Managing Director and CDO
Headquarters: Boston, MA
Business: Financial Services
CEO: Joseph L. Hooley (CEO, Chairperson)
MANAGING DIRECTOR AND CDO PAUL FRANCISCO Shares His D&I Views
“State Street has been known as an organization where, if you want to become a leader, you must be a technically sound person. But what I have noticed is that we are moving toward valuing other traits, such as the ability to be inclusive. We need more inspirational leaders, not just technologists or operationally sound folks.”
Making an Impact
“To increase diversity at all levels of the company, we launched a strategy focused on communication and education, pipeline building, and accountability. This three-pronged approach positions State Street to advance diversity, supported by significant and visible measures for leadership accountability.”
D&I Wins in 2017
“In May 2017, the CEO Action for Diversity and Inclusion™ pledge, which now guides our D&I activities, was signed by State Street CEO Jay Hooley:
- We will continue to make our workplaces trusting places to have complex, and sometimes difficult, conversations about diversity and inclusion: We will create and maintain environments, platforms, and forums where our people feel comfortable reaching out to their colleagues to gain greater awareness of each other’s experiences and perspectives. By encouraging an ongoing dialogue and not tolerating any incongruence with these values of openness, we are building trust, encouraging compassion and open-mindedness, and reinforcing our commitment to a culture of inclusivity.
- We will implement and expand unconscious bias education: Experts tell us that we all have unconscious biases—that is human nature. Unconscious bias education enables individuals to begin recognizing, acknowledging, and therefore minimizing any potential blind spots he or she might have, but wasn’t aware of previously. We will commit to rolling out and/or expanding unconscious bias education within our companies in the form that best fits our specific culture and business. By helping our employees recognize and minimize their blind spots, we aim to facilitate more open and honest conversations. Additionally, we will make non-proprietary unconscious bias education modules available.
- We will share best—and unsuccessful—practices: Each of our companies has established programs and initiatives around diversity and inclusion. Yet, we know that many companies are still developing their strategies. We will commit to helping other companies evolve and enhance their current diversity strategies and encourage them, in turn, to share their successes and challenges with others.”
What’s Ahead in 2018
“We will continue to drive our diversity and inclusion agenda by committing to multi-year diversity goals and strengthening our commitment to communications, accountability, and pipeline development. We will also add a fourth tenant—development and learning.”