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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.
State Street Global Advisors released research showing significant growth in model portfolio adoption, with advisors reporting an average of 39% of assets under management in model portfolios, up from 32% three years ago. The study reveals that 54% of advisors use custom models, while 45% source from broker-dealer platforms and 53% from third-party providers.
Key findings show that investors with assets in model portfolios report higher satisfaction rates with their advisors (95% vs 79%) and better understanding of financial goals (93% vs 79%). However, there's a notable perception gap in fee understanding, with 87% of advisors believing clients understand their fees, while only 58% of clients confirm this understanding. Despite growing adoption, investor awareness of model portfolios remains stagnant at 57%, unchanged since 2019.
State Street (NYSE: STT) announced that Harris | Oakmark has successfully implemented State Street Alpha®, their front-to-back asset servicing platform, ahead of schedule. The partnership, established in late 2023, focuses on providing middle office services to over 2,000 private wealth and retail SMA accounts.
Harris | Oakmark, managing approximately $104 billion in assets as of September 30, 2024, completed the first phase of migration focusing on transaction lifecycle management services in just ten months. The second and final phase is expected to complete in Q1 2026.
State Street Alpha provides a centralized operating model and technology platform for managing public and private assets, supported by its cloud-native Alpha Data Platform.
State Street (NYSE: STT) has scheduled the release of its fourth-quarter and full-year 2024 financial results for Friday, January 17, 2025, at approximately 7:30 a.m. ET. The company will host a conference call at 11:00 a.m. ET to discuss the results.
The financial results review will be accessible through an audio webcast on State Street's Investor Relations website and via telephone. Conference materials will be available on the website before the call. A replay option will be available for approximately one month through both the website and telephone access.
State Street Global Advisors has released its 2025 Global Market Outlook, projecting continued rate cuts and macroeconomic resilience. The firm expects a US soft landing scenario to materialize, following strong equity market returns and modest fixed income performance in 2024.
The outlook anticipates ongoing rate cuts in 2025, though the Trump-led Republican victory could affect the narrative. The firm maintains a favorable outlook for fixed income, expecting slowing economic output and controlled inflation to enable further central bank policy rate cuts.
For equities, the US market shows strong earnings support, while international markets present a mixed picture. Japanese equities are expected to move sideways, and Chinese equities may face challenges despite stimulus measures. The report also highlights the emerging significance of the Gulf Cooperation Council (GCC) region as an investment destination.
State Street (NYSE: STT) announced that Chairman & CEO Ron O'Hanley and Vice Chairman & CFO Eric Aboaf will present at the Goldman Sachs U.S. Financial Services Conference in New York. The presentation is scheduled for December 10, 2024, at approximately 3:40 pm ET.
An audio webcast will be available on State Street's Investor Relations website, with a recorded replay accessible for about ninety days after the presentation.
State Street (NYSE: STT) has announced a $2.25 billion senior debt issuance through its principal banking subsidiary, State Street Bank and Trust Company. The offering was structured to support inclusion and diversity initiatives, with 40% of the securities being underwritten by five broker-dealers owned by underrepresented groups. These include Academy Securities as joint book-running manager, along with AmeriVet Securities, CastleOak Securities, Loop Capital Markets, and Samuel A. Ramirez & Company as co-managers. Morgan Stanley, Deutsche Bank Securities, and Goldman Sachs also participated as joint book-running managers.
State Street Global Advisors (NYSE: STT) has announced a strategic partnership with Bridgewater Associates to expand access to alternative investment strategies. The collaboration combines State Street's ETF expertise since 1993 with Bridgewater's 40-year portfolio construction experience.
The partnership aims to bring institutional-grade investment solutions to retail investors, focusing on portfolio resilience and diversification. According to State Street's ETF Impact Report, 45% of institutional investors globally plan to increase alternative investment allocations in the next 12 months, while 41% of US financial advisors plan to recommend increased allocations.
SPDR Gold Shares (GLD) celebrates its 20th anniversary as the world's largest gold ETF with over $78.3 billion in assets. A new survey by State Street Global Advisors reveals significant growth in gold investment, with 38% of U.S. investors now holding gold, up from 20% in 2023.
The 2024 Gold ETF Impact Study shows that 84% of gold ETF investors report improved portfolio performance. Investors view gold as a safe haven during market volatility (57%) and an inflation hedge (51%). Millennials lead adoption with 61% holding gold, compared to 35% of Gen X and 20% of Baby Boomers. Among financial advisors, 70% recommend gold ETFs to clients.
State Street (NYSE:STT) has elected Patricia Halliday to its Board of Directors. Halliday, 58, brings over three decades of financial services experience across investment, corporate, and retail banking in the UK, Europe, and US markets. Her expertise includes significant risk management experience, having served as chief risk officer at Santander UK and GE Capital International. At Santander, she led enterprise risk operations and at GE Capital, she managed over 1,000 employees while implementing enhanced enterprise-wide risk frameworks. Her previous roles included senior credit risk positions at Deutsche Bank and Barclays Capital.
State Street (NYSE: STT) has declared cash dividends on three series of non-cumulative perpetual preferred stock. Series G will pay $1,337.50 per share ($0.334375 per depositary share), Series I will distribute $1,675.00 per share ($16.750000 per depositary share), and Series J will pay $2,642.78 per share ($26.427800 per depositary share). All dividends are payable on December 16, 2024, to stockholders of record as of December 2, 2024. The Series J dividend covers the period from July 24, 2024, to December 15, 2024.
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