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State Street awards former chief executive $12m

David Spina, the former chairman and chief executive of State Street Corporation, received more than $12m (€9.8m) in severance pay and performance awards in June.

Spina, a State Street veteran of 35 years who had been in the top job at the US banking and financial services group for four years, stepped down at the end of June after undergoing heart bypass surgery in May 2003.

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