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Get filing alertsState Street names C. Jack Read as Chief Accounting Officer, effective August 2026
Filed March 31, 2026 · Period ending March 27, 2026 · ~1 min read
Key Changes
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C. Jack Read, 57, appointed Executive Vice President, Global Controller and Chief Accounting Officer effective August 10, 2026, succeeding Elizabeth M. Schaefer. Read currently serves as Global Controller and CAO at MSCI Inc.
Item 5.02 verify on EDGAR → -
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Read will receive $450,000 base salary plus target total incentive compensation of $2.1 million for 2026, standard for senior financial officer roles at large financial institutions.
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State Street providing $2.43 million in one-time transition payments ($1.73M deferred stock, $700K cash) to compensate for forfeited MSCI compensation, typical for mid-cycle executive recruitment.
Item 5.02 verify on EDGAR →
Summary
State Street Corporation announced a planned leadership transition in its finance organization, appointing C. Jack Read as its new Chief Accounting Officer effective August 10, 2026. Read, who currently holds the same role at MSCI Inc., brings relevant experience from prior positions at Citizens Financial Group. He will succeed Elizabeth M. Schaefer, though the filing does not disclose the reason for her departure.
For retail investors, this is a routine executive appointment with no immediate operational impact. The Chief Accounting Officer oversees financial reporting and controls—critical functions for a major financial institution like State Street. Read's compensation package, including a $2.5 million total target for 2026 plus transition payments, is market-standard for this role.
Watch for State Street's next quarterly earnings report and any commentary about the finance organization's priorities under new leadership. Also monitor whether Elizabeth Schaefer's departure is explained in future filings or whether she is retiring or moving to another role.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On March 27, 2026, State Street Corporation appointed C. Jack Read to serve as Executive Vice President, Global Controller and Chief Accounting Officer, effective August 10, 2026, succeeding Elizabeth M. Schaefer.
State Street appointed C. Jack Read, age 57, as its new Chief Accounting Officer effective August 10, 2026. Mr. Read currently serves as Managing Director, Global Controller and Chief Accounting Officer at MSCI Inc. and previously held similar roles at Citizens Financial Group. He succeeds Elizabeth M. Schaefer in the position.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 3, 2026 · How we verify