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 declared cash dividends on non-cumulative perpetual preferred stock series. The Series D dividend is $1,475.00 per share ($0.3687 per depositary share), Series F is $966.22 per share ($9.6622 per depositary share), Series G is $1,337.50 per share ($0.3343 per depositary share), and Series H is $2,812.50 per share ($28.1250 per depositary share). All dividends are payable on June 15, 2021, to shareholders on record as of June 1, 2021.
Charles River Development, a State Street company, announced the expansion of its partnership with Nomura Asset Management Co., Ltd., a prominent Japanese asset manager with approximately US$607 Billion AUM. Nomura will utilize the Charles River Investment Management Solution on Microsoft Azure to streamline post-trade operations and enhance investment management. This SaaS deployment aims to reduce operational risks, minimize technology overhead, and accommodate increasing trading volumes as Nomura expands its investment offerings.
State Street Corporation (NYSE: STT) has entered an agreement with Invesco Ltd. (NYSE: IVZ) to implement State Street Alpha℠, an integrated asset servicing platform designed for institutional and wealth management firms. This migration aims to simplify Invesco's investment infrastructure, enhancing scale, reducing risk, and boosting operational efficiency. The integration will commence in Q2 2021, with completion targeted for late 2024. State Street Alpha combines essential components like Charles River Development and the Alpha Data Platform, facilitating better investment decisions and streamlining operations.
State Street Corporation (NYSE: STT) announced its first-quarter 2021 financial results, highlighting its role as a leading provider of financial services for institutional investors. As of March 31, 2021, the company manages $3.6 trillion in assets and holds $40.3 trillion in assets under custody and/or administration. The firm operates in over 100 markets worldwide and employs around 39,000 individuals. A conference call to discuss the financial results and outlook is set for April 16, 2021, at 10:00 a.m. EDT, accessible to the public via their Investor Relations website.
State Street Corporation (NYSE: STT) has appointed Renee LaRoche-Morris as the new chief of staff to the COO, overseeing the centralized CAO organization. LaRoche-Morris brings nearly 20 years of experience from BNY Mellon, having most recently served as COO for their Investment Management group. Her appointment is viewed as a strategic move to enhance organizational efficiency and foster inclusive growth. State Street manages $3.5 trillion in assets, positioning it as a leading global financial services provider.
State Street Global Advisors has launched the SPDR Bloomberg Barclays Emerging Markets USD Bond ETF (EMHC) to offer exposure to US dollar-denominated debt from emerging market issuers. This fund aims to provide investors with income and diversification due to emerging market debt's low correlation with other global bond sectors. EMHC targets the Bloomberg Barclays Emerging USD Bond Core Index and excludes low-rated bonds. The ETF complements existing emerging market debt products, meeting client demand for a cost-effective investment in emerging market debt while minimizing local currency depreciation risks.
Charles River Development, a State Street company, has been selected by Colfondos S.A., one of Colombia's largest pension funds, to implement its cloud-based Investment Management Solution. This decision aims to streamline Colfondos' management of equity and fixed income portfolios. The platform will facilitate market expansion into Chile and Peru, utilizing Charles River's scalable architecture. Additionally, Colfondos manages approximately USD 13.2 billion in assets and serves nearly 3 million clients. Charles River's platform supports over USD 350 billion in assets across Latin America.
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