Welcome to our dedicated page for State Street Corporation news (Ticker: STT), a resource for investors and traders seeking the latest updates and insights on State Street Corporation stock.
State Street Corporation (STT) is a globally recognized leader in the financial services industry. Specializing in investment management, investment research and trading, and investment servicing, State Street partners with institutional investors worldwide. These services cater to asset managers, asset owners, alternative asset managers, insurance companies, pension funds, and official institutions.
With approximately $42 trillion in assets under custody and administration and $4.1 trillion in assets under management as of December 31, 2023, State Street demonstrates its significant presence and influence in the financial sector. The company operates in more than 100 geographic markets and employs over 46,000 professionals globally, providing a robust network of support and expertise.
State Street is committed to helping clients overcome challenges and achieve better performance both now and in the future. The company consistently delivers innovative solutions and maintains a forward-looking approach to meet the evolving needs of its clients.
Recent achievements include strategic partnerships and technological advancements aimed at enhancing client services. State Street's current projects focus on expanding its capabilities in data analytics, artificial intelligence, and digital asset management, ensuring it remains at the forefront of the industry.
In addition to its core services, State Street is dedicated to sustainability and responsible investing, integrating environmental, social, and governance (ESG) criteria into its investment processes. This commitment not only benefits clients but also contributes to the broader goal of sustainable development.
State Street Corporation (NYSE: STT) has declared a quarterly cash dividend of $0.63 per share of common stock. This dividend is payable on April 13, 2023, to shareholders recorded by the close of business on April 3, 2023. As of December 31, 2022, State Street managed $3.5 trillion in assets and had $36.7 trillion in assets under custody and administration, operating in over 100 markets globally with a workforce of approximately 42,000 employees.
State Street Corporation (NYSE: STT) has successfully issued $1.25 billion in senior unsecured debt, closing yesterday. This issuance emphasizes the company's commitment to diversity and inclusion (IDE) in the financial services industry, with Black-owned firms playing a key role as bookrunners and co-managers. The offering was significantly oversubscribed, with a final order book 7.5 times the total amount. The debt issuance is part of State Street's ongoing strategy to support Black and Latinx-owned investment companies, contributing to greater equity in society. State Street manages approximately $3.5 trillion in assets as of December 31, 2022.
State Street Corporation (NYSE: STT) announced that its Vice Chairman and CFO, Eric Aboaf, will participate in Credit Suisse’s 24th Annual Financial Services Forum in Miami, Florida, on February 14, 2023, at 11:05 am ET. An audio webcast will be available on State Street’s Investor Relations website, with a recorded replay accessible for 90 days after the event. As of December 31, 2022, State Street manages $36.7 trillion in assets under custody and $3.5 trillion in assets under management, emphasizing its position as a leading financial services provider globally.
State Street Corporation (NYSE: STT) has selected Amazon Web Services (AWS) and expanded its relationship with Microsoft for cloud services as part of a multi-year technology transformation journey. This initiative will consolidate State Street's data centers into an optimized footprint, modernizing infrastructure with a hybrid cloud model. The shift aims to improve client experiences and streamline operations. State Street plans to transition its North American data centers to AWS while continuing operations during the transition. The transformation seeks to enhance resiliency and accelerate product innovation.
State Street Corporation (NYSE: STT) announced its fourth-quarter and full-year 2022 financial results. As of December 31, 2022, the company reported $36.7 trillion in assets under custody and/or administration, alongside $3.5 trillion in assets under management. The results reflect State Street's firm position in the financial services industry, providing services to institutional investors globally. A conference call to discuss these results is scheduled for 11:00 a.m. ET on January 20, 2023, available to the public via audio webcast.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) for Federated Underwriting Company, with a stable outlook. These ratings reflect Federated’s strong balance sheet and adequate operational performance, along with appropriate enterprise risk management. The company, a captive formed by State Street Corporation in 2019, is designed to manage specific risks associated with its parent’s insurance programs. AM Best highlights credit enhancement from State Street, aligning interests and providing financial flexibility.
State Street Corporation (NYSE: STT) has achieved Management Leadership for Tomorrow's Black Equity at Work Bronze Certification, becoming the first Global Systemically Important Financial Institution to receive this designation. This certification reflects State Street's commitment to racial equity, embracing a robust action plan focused on five key pillars: Representation, Compensation, Workplace Culture, Business Practices, and Contributions and Investments. The company aims to further enhance equity initiatives in the years ahead.
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