Oct. 30, 2009 (Business Wire) -- State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, today announced that it was selected by Storage Networking World (SNW) as one of the top honorees for the Fall 2009 “Best Practices in Storage” Awards Program and received the “Technology Innovation and Promise” award for its Standardized Accelerated Virtualized Eco-Friendly (SAVE) Storage initiative. SNW’s twice annual “Best Practices in Storage” Awards Program identifies and acknowledges excellence among users of storage technology. The award winners were selected by a panel of judges based on detailed case studies of the IT challenges and solutions implemented at each company. State Street was presented with the award this month at a ceremony hosted by SNW, in conjunction with IDG’s Computerworld and the Storage Networking Industry Association.

“We are delighted to be recognized for State Street’s innovative approach to storage technology. Our efforts to minimize our technology footprint through our SAVE initiative provided a strategic advantage to the business by creating a more efficient infrastructure,” said Madge Meyer, executive vice president, Global Infrastructure Services at State Street. “State Street’s ability to anticipate and accommodate the deployment of future storage solutions allows us to support continued data growth in a cost-effective way while executing major migrations globally.”

State Street was awarded for its overall performance excellence and quality achievement with its storage capabilities. The SNW award highlighted one of State Street’s Storage Networking solutions called SAVE Storage, which was implemented by State Street’s Global Infrastructure Services team. SAVE supports State Street’s continued data growth in a cost-effective way while seamlessly executing major datacenter migrations and improving manageability with increased productivity.

"The organizations and professionals judged to be finalists in SNW Fall 2009 “Best Practices in Storage” Awards Program have unlocked the true value of managing today’s storage technology,” said Ellen Daly, senior vice president, events, IDG Enterprise. “Storage management is at the center of IT infrastructure and IT management and these finalists have shown they are on the leading edge of innovative technologies.”

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 $17.9 trillion in assets under custody and administration and $1.7 trillion in assets under management at September 30, 2009, State Street operates in 27 countries and more than 100 geographic markets worldwide.