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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 Corporation (NYSE: STT) announced its second-quarter 2021 financial results, offering insights into its performance. The company reported $42.6 trillion in assets under custody and/or administration and $3.9 trillion in assets under management as of June 30, 2021. A conference call discussing the results and outlook is scheduled for July 16, 2021, at 10:00 a.m. ET, available to the public via their Investor Relations website.
State Street Corporation (NYSE: STT) declared quarterly cash dividends for its non-cumulative perpetual preferred stock, effective September 15, 2021. The Series D dividend is $1,475.00 per share ($0.3687 per depositary share), Series F is $949.61 per share ($9.4961 per depositary share), and Series G is $1,337.50 per share ($0.3343 per depositary share). All dividends are payable to holders of record by August 31, 2021. With $40.3 trillion in assets under custody and $3.6 trillion under management, State Street is a leading financial services provider.
State Street Corporation (NYSE: STT) announced a 10% increase in its third-quarter 2021 cash dividend to $0.57 per share, payable on October 12, 2021. This follows a prior dividend of $0.52 per share. Additionally, a new $3.0 billion common stock repurchase program has been approved, set to run over the next six quarters. CEO Ron O’Hanley emphasized the company's strong balance sheet and performance, which support these initiatives aimed at enhancing shareholder value.
First Abu Dhabi Bank (FAB) and State Street Corporation (NYSE:STT) have formed a strategic alliance to enhance securities services in the MENA region. This partnership combines FAB's regional expertise with State Street's global capabilities, creating a comprehensive service for institutional investors. The collaboration will enable access to over 100 global markets and offer a diverse range of investment products. Clients can benefit from State Street’s full suite of financial services and FAB’s local insights, aiming to improve operational efficiency and reduce costs for MENA investors.
On July 7, 2021, Altruist announced the expansion of its Model Marketplace, integrating new models from BlackRock (NYSE: BLK), Redwood Investment Management, and State Street (NYSE: STT). This enhancement allows financial advisors to access top-tier models, including BlackRock's Target Allocation ESG and ETF Series, and State Street's Active Asset Allocation ETF Portfolios. Altruist aims to provide cost-effective solutions for independent advisors, allowing them to manage portfolios efficiently and meet growing client demand for sustainable investment options.
State Street Corporation (NYSE: STT) reported a preliminary stress capital buffer (SCB) requirement of 2.5%, effective October 1, 2021. The company plans a 10% increase in its quarterly dividend to $0.57 per share in Q3, pending board approval. State Street’s SCB was below the 2.5% minimum, maintaining strong capital stability. The firm will continue share repurchases, subject to board approval. The 2021 annual stress test results emphasized the company's resilient business model, supporting ongoing capital returns to shareholders.
Charles River Development, part of State Street, announced a collaboration with Cosaic to integrate their Finsemble platform into the Charles River Investment Management Solution (Charles River IMS). This integration enhances asset managers' ability to connect third-party applications, offering seamless access to data. Built on the FDC3 protocol, Finsemble allows for faster deployment of applications without coding. The partnership aims to improve operational efficiency for clients, enabling quicker technology adoption while minimizing reliance on proprietary APIs.
State Street Corporation has partnered with Canoe Intelligence to implement cloud-based machine learning technology aimed at transforming private markets processing and document management. This integration will streamline alternative investment workflows, significantly reducing processing times and improving data recognition rates. Clients can expect expedited access to critical information, allowing asset managers to focus on more essential tasks. State Street currently oversees $40.3 trillion in assets under custody and $3.6 trillion in assets under management, enhancing its operational efficiency in over 100 global markets.
State Street Corporation (NYSE: STT) will announce its Q2 2021 financial results on July 16, 2021, at 7:30 a.m. ET. A review will follow at 10:00 a.m. ET via webcast and teleconference. Interested parties can access the call on State Street’s Investor Relations website or by phone. The company, recognized as a leading financial services provider, manages $3.6 trillion in assets, with $40.3 trillion under custody and/or administration as of March 31, 2021.
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