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 Corporation (NYSE: STT) has appointed Brad Hu as its new chief risk officer, effective January 1, 2022. Hu will transition from his previous role at Citigroup, where he notably reduced the firm's risk profile during challenging times. His extensive experience spans over three decades in financial services, including significant roles at Morgan Stanley. Hu's leadership is expected to enhance State Street's risk management capabilities amidst the evolving global risk landscape.
State Street Corporation (NYSE:STT) announced that CFO Eric Aboaf will participate in the BancAnalysts Association of Boston Conference on November 4, 2021, at 2:40 PM ET. The event's webcast will be available on State Street's Investor Relations page, with a recorded replay accessible for two weeks post-event. State Street is a global leader in financial services for institutional investors, managing $3.9 trillion in assets as of September 30, 2021, and overseeing $43.3 trillion in assets under custody.
State Street Corporation (NYSE:STT) announced a cash dividend for its non-cumulative perpetual preferred stock series, payable on December 15, 2021. The dividends are as follows: Series D will receive $1,475.00 per share ($0.3687 per depositary share), Series F will get $938.56 per share ($9.3856 per depositary share), Series G is set to receive $1,337.50 per share ($0.3343 per depositary share), and Series H will obtain $2,812.50 per share ($28.1250 per depositary share). Record date for all series is November 30, 2021.
State Street Corporation (NYSE:STT) has announced the launch of its Peer-to-Peer Repo program, facilitating overnight and term repo trading between buy-side counterparties. The first transaction was executed between a large asset owner and a non-traditional investment manager. This initiative enhances liquidity access while providing a guaranty against counterparty default. The program aims to meet the high demand for secured investment opportunities highlighted by volatility in 2020, with over $1 trillion in the Federal Reserve's Reverse Repo Program. State Street manages $3.9 trillion in assets as of September 30, 2021.
State Street Corporation (NYSE: STT) reported its third-quarter 2021 financial results. As of September 30, 2021, the firm managed $3.9 trillion in assets and administered $43.3 trillion in assets. A conference call is scheduled for October 18, 2021 at 10:00 a.m. ET to discuss results and outlook. The call will be accessible publicly via the Investor Relations website. For more details, please visit State Street's Investor Relations.
State Street Corporation (NYSE: STT) has announced its partnership with the Digital Securities Depository Corporation (DSDC) to provide custody services. DSDC aims to enhance cross-border securities settlement for digital depositary receipts (DDRs), starting with UK’s FTSE 350 equities. State Street will offer various services including safekeeping and transaction settlement for non-US listed securities. This collaboration supports State Street's digital finance strategy, as it continues to build out its capabilities in crypto and distributed market infrastructure.
State Street Corporation (NYSE: STT) has expanded its Direct Access Lending product to include Convertible Bond Arbitrage Strategies, allowing borrowers to use US convertible bonds as collateral. This peer-to-peer securities finance product has seen substantial growth since its launch in Q4 2019, adding new clients and increasing on-loan balances. The enhancements aim to attract both existing and prospective clients, supporting operational efficiencies without raising operational risk.
State Street Corporation (NYSE:STT) has been appointed back office servicing agent for Harbor Capital Advisors’ first actively managed fully transparent fixed income ETFs, launched in September. These include the Harbor Scientific Alpha Income ETF (SIFI) and the Harbor Scientific Alpha High-Yield ETF (SIHY). State Street will provide ETF servicing solutions such as custody, fund accounting, and order-taking. With over 30 years of partnership, State Street manages $58B in assets for Harbor and boasts $42.6 trillion in assets under custody. This collaboration is expected to enhance ETF growth.
State Street Global Advisors has launched the SPDR Loomis Sayles Opportunistic Bond ETF (OBND), an actively managed fund aimed at providing diverse income sources through a mix of investment-grade, high-yield, and non-U.S. dollar denominated debt. Managed by the Loomis Sayles Alpha Strategies team, it targets risk-adjusted total returns by navigating global credit conditions. The fund responds to the current low interest rate landscape, offering investors a solution for yield and diversification.
State Street Corporation (NYSE: STT) will announce its third-quarter 2021 financial results on October 18, 2021, at 7:30 a.m. ET. Investors can access the webcast at investors.statestreet.com and by phone at (833) 380-0399. A replay will be available for two weeks after the call. As of June 30, 2021, State Street had $42.6 trillion in assets under custody and $3.9 trillion in assets under management, operating in over 100 markets globally.
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