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 (NYSE: STT) and TCW have expanded their long-standing partnership to include middle office services. This builds on State Street's existing administrative and custody services for TCW's public and private fund complexes, as well as capital for TCW's alternatives platform. TCW will utilize State Street's Alpha services to integrate with its front-end platform, unifying the investment management process.
The partnership aims to enhance TCW's operational efficiency and scalability while maximizing technology investments. It also supports TCW's strategic growth initiatives, particularly in credit alternatives, which has seen a doubling of assets over the past four years. Both companies expressed enthusiasm about the expanded collaboration, emphasizing its alignment with TCW's commitment to innovation and operational excellence.
State Street (NYSE: STT) has announced an extension of its exchange traded fund (ETF) and mutual fund servicing relationship with VanEck, a leading global asset management firm. The extended agreement includes comprehensive support for VanEck's expanding range of ETF funds, reflecting State Street's commitment to providing innovative solutions for the global ETF marketplace.
The partnership builds on a long-standing relationship, with State Street serving as a full-service provider for VanEck's global ETF and mutual fund servicing needs, including digital asset ETFs. State Street was previously appointed as Administrator and Transfer Agent for VanEck's Bitcoin ETF (HODL) and more recently as Administrator, Transfer Agent, and Cash Custodian for the VanEck Ethereum ETF (ETHV).
State Street is currently the largest ETF administrator globally, servicing over 2,800 ETFs across 13 countries in a $13.5 trillion ETF marketplace. The company's ETF servicing business offers integrated global capabilities and proprietary technology to support clients in the growing ETF market.
State Street (NYSE: STT) has appointed Vanessa Fernandes as head of Digital Asset Solutions. Fernandes, based in New Jersey, will report to Donna Milrod, chief product officer at State Street. With over 25 years of financial services experience, Fernandes will drive the execution of State Street's digital asset strategy, partnering with leaders across product, technology, operations, and the Chief Commercial Office.
Prior to joining State Street, Fernandes was Managing Director and Global Head of Digital Experience at BNY. She also held senior leadership roles at Itaú Unibanco, including Chief Information Officer and CEO of Digital Assets. Her appointment follows State Street's recent strategic agreement with Taurus SA, aimed at enhancing the firm's digital asset capabilities, including tokenization and digital asset custody services.
State Street Global Advisors has launched the SPDR® SSGA MyIncome Suite, the industry's first actively managed corporate and municipal target maturity ETFs. This suite consists of 14 ETFs with maturity years ranging from 2026 to 2034, including nine corporate bond and five municipal bond ETFs.
The ETFs are designed to help investors build custom bond ladder portfolios, managing interest rate risks, cash flows, and liquidity needs. They use a risk-aware, top-down approach combined with bottom-up security selection to overweight attractive sectors and issuers.
These ETFs aim to provide active exposure to corporate and municipal bonds with defined maturity dates, potentially benefiting retirees seeking predictability and capital preservation. The investment strategies focus on maximizing current income while preserving capital through a robust investment process and prudent risk management.
State Street (NYSE: STT) has announced additional deposit placements through two minority depository institutions (MDIs) and Community Development Financial Institutions (CDFIs): Leader Bank in Massachusetts and Local Bank in Oklahoma. This is part of State Street's $100 million program launched earlier this year, with 75% of funds already placed. The initiative aims to provide low-cost, stable deposit funding to underserved communities.
State Street will host an event on September 17 for CEOs and executive leadership of all seven banks participating in its MDI/CDFI deposit program. This convening will focus on enhancing partnerships and driving further community impact. The program aligns with State Street's ongoing efforts to address racism and inequality, including its 10 Actions plan announced in 2020 and the completion of an independent Civil Rights Audit.
State Street Global Advisors has launched three actively managed digital asset and disruptive technology ETFs, sub-advised by Galaxy Asset Management. The new funds are:
- SPDR® Galaxy Digital Asset Ecosystem ETF (DECO)
- SPDR® Galaxy Hedged Digital Asset Ecosystem ETF (HECO)
- SPDR® Galaxy Transformative Tech Accelerators ETF (TEKX)
These ETFs aim to capitalize on market inefficiencies and evolving trends in the rapidly changing digital landscape. They offer active management of digital asset exposures, focusing on companies benefiting from blockchain and digital asset industries, as well as cryptocurrency exposures through ETFs and futures. HECO incorporates options strategies to manage volatility, while TEKX targets companies supporting new disruptive technologies like blockchain and AI.
State Street Global Advisors, part of State Street (NYSE: STT), and Apollo Global Management (NYSE: APO) have announced a collaboration to expand investor access to private market opportunities. This partnership aims to democratize access to private assets, which have nearly tripled in the last decade. The initiative will focus on making private market investments more accessible through ETFs and other investment products advised by State Street Global Advisors.
Key points:
- Private assets are one of the fastest-growing sectors in finance
- The partnership combines strengths of two market leaders
- Goal is to increase accessibility to private markets for a wider range of investors
- Focus on private investment grade credit and other private fixed income and equity strategies
- Apollo reported over $145 billion of origination in the last twelve months as of June 30, 2024
State Street Global Advisors, part of State Street (NYSE: STT), has launched three new ETFs to expand investment options for clients:
1. SPDR SSGA US Equity Premium Income ETF (SPIN): An actively managed ETF designed to enhance income through a dynamic call writing program while maintaining potential for long-term capital growth. Priced at 25 basis points.
2. SPDR S&P Emerging Markets ex-China ETF (XCNY): Tracks a market cap-weighted index of emerging market companies, excluding China. Priced at 15 basis points, the lowest-cost fund in its category.
3. SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY): Seeks to track the Bloomberg Enhanced Roll Yield Total Return Index, offering broad commodities exposure with a focus on diversification and enhanced roll yields.
These new ETFs aim to help investors capture opportunities, manage risk, and customize their portfolios more effectively.
State Street (NYSE: STT) has been selected by Challenger , an Australian investment management firm, to provide custody and investment administration services for assets worth A$127 billion. This partnership involves State Street's Alpha® platform, integrating front-, middle-, and back-office operations. The deal covers Challenger's entire group, including Fidante, Challenger Investment Management, and Challenger Life.
As part of this agreement, approximately 100 Challenger employees will transfer to State Street in October. David Mackaway, current CEO of Artega, will also join State Street, bringing significant industry experience. This move strengthens State Street's position in the Australian market and enhances its capacity to serve complex client needs.
State Street (NYSE: STT) has announced that its Vice Chairman and CFO, Eric Aboaf, along with COO Mostapha Tahiri, will be presenting at the Barclays 22nd Annual Global Financial Services Conference in New York. The presentation is scheduled for Monday, September 9, 2024, at approximately 11:15 AM ET.
Investors and interested parties can access an audio webcast of the event through State Street's Investor Relations website. For those unable to attend live, a replay of the webcast will be available on the same website for about 90 days following the presentation, providing ample opportunity for review and analysis.
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