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 released its fourth-quarter and full-year financial results for 2020. The firm reported significant figures, managing $38.8 trillion in assets under custody and/or administration, and $3.5 trillion in assets under management as of December 31, 2020. A conference call to discuss these results and the company's outlook is scheduled for January 19, 2021, at 10:00 a.m. EST. This call will be accessible to the public via the Investor Relations website and by telephone.
State Street Corporation (NYSE:STT) announced the redemption of $500 million of its Series F Preferred Stock on March 15, 2021, for a cash redemption price of $100,000 per share, plus unpaid dividends. A cash dividend of $953.38 per share has been declared for the period leading up to the redemption date. Additionally, following the Federal Reserve's lifted moratorium on share repurchases, State Street plans to resume its common share repurchase program during Q1 2021, dependent on Board approval. The company's capital optimization strategies aim to benefit shareholders.
State Street Corporation (NYSE: STT) announced a quarterly cash dividend for its non-cumulative perpetual preferred stock series, payable on March 15, 2021. Series D will pay $1,475.00 per share (approximately $0.3687 per depositary share), Series F will pay $953.38 per share (approximately $9.5338 per depositary share), and Series G will pay $1,337.50 per share (approximately $0.3343 per depositary share). Record date for all series is March 1, 2021. This reflects State Street's commitment to providing returns to its shareholders.
State Street Corporation (NYSE: STT) has launched full foreign exchange (FX) trading capabilities through its Brazilian bank, expanding its footprint in Latin America. This strategic move follows the acquisition of Natixis Brasil S.A. in 2019 and represents a significant step in enhancing services for local and global clients. With 13 FX sales and trading desks globally, State Street now offers unparalleled access and insights into local markets. Additionally, Marcia Rothschild has been appointed to lead Latin American operations, focusing on client engagement. State Street has also received top rankings in FX services from Euromoney Magazine.
State Street Corporation (NYSE: STT) will announce its fourth-quarter and full-year 2020 financial results on January 19, 2021, at approximately 7:30 a.m. EST. The financial results will be discussed in a conference call at 10:00 a.m. EST, accessible via State Street's Investor Relations website or by telephone. State Street manages $3.1 trillion in assets and has $36.6 trillion in assets under custody as of September 30, 2020, employing around 39,000 people worldwide.
State Street Corporation (NYSE: STT) announced strong results from the 2020 Federal Reserve stress test, affirming its capital stability amidst the pandemic. The Federal Reserve has authorized State Street to resume capital actions, including share buybacks and dividend payments. The company aims to return excess capital to shareholders, reflecting confidence in its financial position and operational effectiveness. With $36.6 trillion in assets under custody and $3.1 trillion under management, State Street continues to support financial markets and its clients.
State Street Corporation (NYSE:STT) has declared a quarterly cash dividend of $0.52 per share of common stock. The dividend is scheduled for payment on January 19, 2021, to shareholders on record as of the close of business on January 4, 2021. As of September 30, 2020, State Street managed $3.1 trillion in assets and had $36.6 trillion in assets under custody and/or administration, solidifying its position as a leading provider of financial services to institutional investors globally.
State Street Corporation (NYSE: STT) has launched the State Street AlphaSM Data Platform, designed to provide institutional investment and wealth managers with an end-to-end data management solution. This platform allows clients to access investment data from both internal and third-party services in near real-time, enhancing data quality and reducing costs. Collaborating with Snowflake and Microsoft Azure, the platform aims to deliver timely insights while simplifying user experience, ultimately accelerating decision-making in investment processes.
State Street Corporation (NYSE: STT) has extended its investment servicing relationship with Glenmede Investment Management L.P. and the Glenmede Funds. This renewal includes global custody, accounting, fund administration, and transfer agency solutions. Glenmede will also utilize State Street’s outsourced non-US equity trading and middle office services. According to Ellyn Charters of State Street, this move supports client growth and operational efficiency. Glenmede’s President, Kent Weaver, noted that the extension enhances their service capability and aligns with their growth objectives.
State Street Corporation (NYSE: STT) has appointed Staffan Ahlner as the global head of Collateral+ within its Funding and Collateral Solutions group, aiming to enhance its collateral management capabilities. Ahlner, formerly of BNY Mellon, brings valuable experience to the role. Additionally, Yalini Isweran has joined to focus on product innovation and business development. Recent survey findings revealed that 81% of asset managers are unprepared for upcoming Uncleared Margin Rules.
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