State Street Corporation (NYSE:STT) announced today that it expanded its academic partnerships with the addition of two esteemed professors from top Boston-based business schools.
State Street Associates(SSA), the academic and data science research arm of State Street, will partner with Antoinette Schoar, a finance professor at MIT, who joins in an effort to see clients through risks and opportunities in the blockchain and cryptocurrencies space. Robin Greenwood, a finance and banking professor at Harvard Business School, also joins to advance research on a range of topics, including central bank policy, equity investing, financial crises and behavioral finance.
As the Stewart C. Myers-Horn Family Professor of Finance at the MIT Sloan School of Management, Antoinette Schoar is an expert in corporate finance, organizational economics and entrepreneurship. Her current research focuses on the topics of consumer and entrepreneurial finance, and how new financial technologies are impacting those areas. In addition to the work she will be doing with clients in the blockchain and cryptocurrencies space, Schoar will help apply research findings directly with State Street Digital.
Launched in June 2021, State Street Digital was created to address the industry’s evolving shift to digital finance. The new division builds on State Street’s prior digital capabilities and now includes crypto, central bank digital currency, blockchain and tokenization. State Street’s GlobalLink technology platform is also a component of State Street Digital.
“Cryptocurrencies have become rapidly popularized,” commented Dr. Schoar. “This is an opaque market where opportunities are not obvious and risks are not well understood. At the same time, blockchain has the potential to provide new opportunities and applications for financial markets. I am excited to be collaborating with State Street and its clients as they devise strategies to navigate these important trends.”
Robin Greenwood, Senior Associate Dean for Faculty Development and Research at Harvard Business School, is also the George Gund Professor of Finance and Banking, the Anne and James F. Rothenberg Faculty Fellow, as well as the faculty director of the Behavioral Finance and Financial Stability project at Harvard Business School. Greenwood’s current research takes a particular focus on “macro-level” market inefficiencies such as asset price bubbles and measuring market frothiness.
In addition, Greenwood is a member of the Financial Advisory Roundtable of the Federal Reserve Bank of New York and a Research Associate at the National Bureau of Economic Research. Prior to his current roles, Greenwood was the chair of the Business Economics Ph.D. program and Finance Unit Head from 2018 to 2021. Greenwood received a Ph.D. in economics from Harvard and B.S. degrees in economics and mathematics from MIT.
“State Street has a track record of engagement with the academic community to advance research into real-world challenges,” added Robin Greenwood. “I look forward to working with the team at State Street Associates and to engaging with State Street’s clients to achieve better outcomes.”