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 Global Advisors has launched the SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG), marking its first fixed income ETF focused on liquidity. This ETF aims to provide investors with credit exposure to U.S. investment-grade corporate bonds featuring higher liquidity, tighter bid-ask spreads, and lower premiums. It tracks the MarketAxess U.S. Investment Grade 400 Corporate Bond Index, which consists of 400 bonds with above-average liquidity. The launch seeks to enhance transparency and tradability in the traditionally illiquid fixed income market.
Charles River Development, a State Street Company, has been selected by Futuregrowth Asset Management to implement their Charles River Investment Management Solution (IMS) as the new front office investment system. This platform enhances risk and portfolio management, facilitates trading, and supports efficient collaboration. Futuregrowth, managing around R193 billion (approximately US$12 billion) in assets, aims to uphold ethical investment practices while streamlining operations. Charles River's established presence in South Africa underscores their commitment to operational efficiency and support for innovative investment strategies.
State Street Corporation (NYSE: STT) announced significant senior management changes, appointing Lou Maiuri as President and head of Investment Services, while Eric Aboaf becomes Vice Chairman. These appointments aim to enhance business alignment and drive revenue growth. Maiuri will oversee all aspects of Investment Services, while Aboaf will manage Global Markets, enhancing balance sheet optimization. These changes are expected to strengthen leadership accountability and support the company’s financial targets, while also addressing client needs.
State Street Corporation (NYSE: STT) has launched two new ETFs: SPDR MSCI USA Climate Paris Aligned ETF (NZUS) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC), aimed at investors looking to decarbonize their portfolios. These funds will track the MSCI USA and MSCI ACWI Climate Paris Aligned Indexes, focusing on reducing climate risks. The University of California's investment arm has committed early-stage investment in these funds as part of its drive towards carbon neutrality by 2025. Notably, the total expense ratio for NZAC has decreased from 20 to 12 basis points.
State Street Corporation (NYSE: STT) announced cash dividends for its preferred stock series, payable on June 15, 2022. Series D will receive $1,475.00 per share ($0.3687 per depositary share), Series F will get $1,130.32 per share ($11.3032 per depositary share), Series G will receive $1,337.50 per share ($0.3343 per depositary share), and Series H will get $2,812.50 per share ($28.1250 per depositary share). The record date for all series is May 31, 2022. State Street manages approximately $4.0 trillion in assets as of March 31, 2022.
State Street Corporation (NYSE:STT) has appointed Michael Knowling as the head of its Global Clients Division. He will oversee a team focused on providing tailored solutions to complex global clients. Knowling brings nearly three decades of experience from Prudential Financial, where he managed client relations and was responsible for developing retirement solutions. His extensive background includes client service and business development roles, highlighting his expertise in meeting client needs. State Street boasts $41.7 trillion in assets under custody and $4.0 trillion in assets under management.
FundGuard announced the successful closure of a $40 million Series B funding round, bringing total investments to over $55 million within 3.5 years. Major investors include Citi and State Street, who join existing backers such as Blumberg Capital and LionBird Ventures. The funding will enhance FundGuard's AI-powered asset servicing platform, enabling better cost-efficiency and innovation in investment management.
FundGuard has recently expanded its client base, launched an investment accounting solution for digital assets, and appointed John Lehner as president.
State Street Corporation (NYSE: STT) reported its first-quarter 2022 financial results. As of
State Street Corporation (NYSE: STT) has launched an integrated fund trading solution targeting clients in Mexico. This secure online platform, in collaboration with Clearstream (Vestima®), provides a single-entry point for fund order services. Key features include connectivity with numerous transfer agents, support for both segregated and omnibus accounts, and a robust infrastructure backed by SWIFT. The first client on this platform is Afore Profuturo, which aims to improve efficiency in managing retirement funds for over six million clients in Mexico. This initiative is part of State Street's expansion strategy in the LATAM region.
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