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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.
Securrency has announced the appointment of Nadine Chakar as CEO effective January 9, 2023. Chakar, who has over 30 years of experience in financial services, aims to enhance the commercialization of Securrency's compliance-driven digital asset technology for institutions. Previously, she was Executive VP at State Street Digital. Her leadership is expected to accelerate growth in Securrency's blockchain-enabled financial services infrastructure. Dan Doney will shift to focus on technology and innovation as CTO, furthering the company's vision in decentralized finance.
State Street Corporation (NYSE: STT) appointed Dr. Andreas Przewloka as the new CEO of State Street Bank International GmbH effective January 1, 2023. He brings over 20 years of experience in the financial services industry, particularly within European banking and securities services. Przewloka succeeds Stefan Gmuer, who led SSBI for two decades. The transition highlights State Street's focus on enhancing its growth and strategy across Continental Europe, leveraging Przewloka’s extensive network and expertise amidst evolving regulations.
State Street Corporation (NYSE: STT) will announce its Q4 and full-year 2022 financial results on January 20, 2023, at approximately 7:30 a.m. ET. A conference call will be held at 11:00 a.m. ET to review the results, accessible via audio webcast and telephone. As of September 30, 2022, State Street managed $35.7 trillion in assets under custody and/or administration, and $3.3 trillion in assets under management, employing around 41,000 staff globally. For further details, visit their Investor Relations website.
State Street Corporation (NYSE: STT) has declared a quarterly cash dividend of $0.63 per share of common stock. This dividend will be payable on January 13, 2023, to shareholders on record as of January 3, 2023. As of September 30, 2022, State Street managed approximately $3.3 trillion in assets and provided services for $35.7 trillion in assets under custody and/or administration, underscoring its position as a leading financial services provider for institutional investors globally.
State Street Global Advisors, the asset management arm of State Street Corporation (NYSE: STT), has launched a program allowing investors in certain institutional funds in the US and UK to direct how shares held in their funds are voted. The initiative aims to enhance participation in proxy voting, with eligible investors managing over 40% of index equity assets able to make their voting choices by the 2023 proxy season. The program will be supported by Institutional Shareholder Services (ISS) and aligns with the company's long-term value delivery mission.
State Street Global Advisors has released its 2023 Global Market Outlook, titled Navigating a Bumpy Landing, addressing macroeconomic challenges and investment strategies. The outlook suggests persistent market volatility but expresses cautious optimism for a potential recovery, predicting global growth at 2.6% for 2023. Key themes include focusing on quality stocks, the potential for fixed income buying opportunities amid rising rates, and expectations for a peak in the US dollar. The firm anticipates inflation to trend lower, allowing the
State Street Corporation (NYSE: STT) announced an increase of up to $500 million in its fourth quarter common stock share repurchases, bringing the total planned buyback to $1.5 billion. This increment follows a completed $1.0 billion repurchase earlier in the quarter. The company emphasizes the strength of its capital position and commitment to shareholder returns, aiming for a payout exceeding 80% of earnings in 2023. The repurchases may involve various transaction types and are subject to Board approval.
Brown Brothers Harriman (BBH) has announced the termination of its agreement to sell its Investor Services business to State Street Corporation (NYSE: STT) due to State Street's inability to secure necessary regulatory approvals. Despite this setback, BBH emphasizes its commitment to excellence in client service and plans to continue investing in its people and technologies. The firm believes its specialized position in asset servicing will remain attractive to sophisticated institutional investors. BBH has no plans for alternative transactions regarding the Investor Services business.
State Street Corporation (NYSE: STT) has mutually agreed with Brown Brothers Harriman (BBH) to terminate the proposed acquisition of BBH's Investor Services business. The decision arises from regulatory feedback indicating potential delays and complexity, which could limit anticipated benefits and increase operational risks. CEO Ron O'Hanley emphasized that this choice reflects a strategic decision for the best interests of clients and shareholders. No penalties are associated with the termination of the Sale and Purchase Agreement.
State Street Corporation (NYSE: STT) launched a new peer-to-peer financing platform named Venturi, aimed at connecting buy-side firms with enhanced liquidity sources in the global repo market. Developed in partnership with FinOptSys, Venturi facilitates trade negotiations, streamlines documentation, and improves collateral management. Notable features include increased efficiency, flexibility in collateral, seamless confirmation of State Street's guarantees, and enhanced transparency in trade settlements. This initiative addresses growing demands for diversified financing amidst market volatility.
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