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.
Charles River Development, a State Street Company, announced that Federated Hermes, Inc. has integrated over $97 billion in equity strategies with Charles River’s cloud-based Investment Management Solution on Microsoft Azure. This modernization effort aims to enhance their operating model, facilitating growth through improved portfolio management, trading, and compliance. The solution provides scalability and streamlined operations. Federated Hermes managed $634.1 billion in assets as of September 30, 2021, while State Street Corporation oversees $43.3 trillion in assets.
State Street Global Advisors has launched IncomeWise™, a deferred lifetime income solution, within the University of California's defined contribution plans, serving over 300,000 participants with assets exceeding
IncomeWise™ combines traditional target date funds' flexibility with guaranteed lifetime income, addressing growing retirement security needs. The solution utilizes a qualified longevity annuity contract (QLAC) to convert savings into a secure income stream during retirement. State Street partnered with MetLife for annuity provision, aiming to enhance financial stability for participants.
State Street Corporation (NYSE:STT) has enhanced its Collateral+ service by integrating market-leading pre-and post-trade optimization and margin analytics in partnership with Cassini Systems. This upgrade allows for better collateral efficiency, optimizing margin costs and trade routes before and after transactions. Clients can leverage these enhancements to improve liquidity and reduce costs associated with collateral management, especially under Uncleared Margin Rules (UMR). The service's recent operational collaborations with Acadia's Initial Margin Exposure Manager and DTCC's Margin Transit Utility further streamline collateral transfers.
State Street Corporation (NYSE: STT) has successfully issued $500 million in senior notes, employing a fixed-to-floating rate with a coupon of 1.684%. The offering, which closed on November 15, saw over 25% of the issuance underwritten by veteran-owned firms. This initiative highlights State Street's ongoing commitment to veterans and diversity in the financial services industry. CFO Eric Aboaf noted that this issuance marked their tightest spread on a senior bond issue to date, demonstrating strong performance and investor interest.
State Street Corporation (NYSE:STT) has announced a strategic partnership with RIMES, enhancing State Street Alpha. This collaboration aims to improve index and benchmark services, addressing complex client needs by integrating access to 3.4 million indices and over 650 data partners.
The partnership is expected to deliver operational efficiencies and faster implementations, ensuring clients have the best benchmark data through State Street Alpha's comprehensive platform.
State Street Corporation (NYSE: STT) has expanded its academic partnerships by adding two renowned professors from top Boston business schools to its State Street Associates (SSA). Antoinette Schoar from MIT will focus on blockchain and cryptocurrencies, while Robin Greenwood from Harvard Business School will research central bank policy and equity investing. This initiative aims to assist clients in navigating financial risks and opportunities in the evolving digital finance landscape as State Street Digital continues to grow.
State Street Global Advisors has launched the Opportunity Class shares within its money market fund suite, aimed at supporting philanthropic organizations aligned with its commitment to racial equity and social justice. This new share class responds to client demand for investments that support inclusion and diversity initiatives. At least 20% of the annual net management fee from these shares will be donated to relevant charities. Notable funds offering these shares include the State Street Institutional U.S. Government Money Market Fund and the State Street ESG Liquid Reserves Fund.
State Street Corporation (NYSE: STT) announced that its Chairman and CEO, Ron O’Hanley, along with CFO Eric Aboaf, will participate in the Goldman Sachs 2021 US Financial Services Conference on December 8, 2021, at 10:40 am ET. The webcast and related materials will be available on the Investor Relations page, with a recorded replay accessible later for two weeks. State Street is a leading provider of financial services to institutional investors, managing $3.9 trillion in assets as of September 30, 2021.
Charles River Development, part of State Street, has integrated MTS BondsPro, an SEC-registered Alternative Trading System, into its Order and Execution Management System (OEMS) and Inventory Hub. This integration allows users access to streaming liquidity on corporate bonds with over 180,000 prices across 20,000 securities. Traders can act as price makers in fixed income markets, enhancing liquidity access. MTS connects over 500 firms globally, facilitating average daily volumes exceeding €130 billion.
Charles River Development (CRD), a State Street Company, appointed Caroline O'Shaughnessy as Head of EMEA, overseeing all business operations in the region and collaborating with State Street Alpha℠. With over 25 years in high-revenue businesses, O'Shaughnessy joins from the London Stock Exchange Group, where she held senior roles. The leadership change aims to leverage her experience to drive growth and enhance customer partnerships, contributing to the ongoing expansion of CRD's services that manage over US$35 trillion in assets.
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