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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) has appointed Theresa McLaughlin as its new global chief marketing officer. McLaughlin brings over 18 years of experience in the financial services sector, previously serving as the chief marketing officer at TD Bank Financial Group. Her expertise in brand building is expected to enhance State Street's global reach and impact, particularly at this crucial time for clients. McLaughlin will report to Julia McCarthy, the global head of client experience.
Charles River Development, a State Street company, has been selected by Retail Employees Superannuation Trust (Rest), one of Australia's largest super funds, to implement its cloud-based Charles River Investment Management Solution (IMS). This partnership aims to consolidate Rest's front and middle office operations, enhancing asset allocation management across various assets. The solution will automate processes to improve efficiency and transparency, supporting Rest's investment needs and long-term returns for its 1.8 million members.
State Street Corporation (NYSE: STT) announced that Chief Financial Officer Eric Aboaf will speak at the Credit Suisse Virtual Financial Services Forum on February 24, 2021, at 12:10 PM EST. The event will be available via webcast on State Street’s Investor Relations page, with a recorded replay accessible later that day for approximately two weeks.
State Street is a leading provider of financial services to institutional investors, managing $3.5 trillion in assets and overseeing $38.8 trillion in assets under custody as of December 31, 2020. For more details, visit www.statestreet.com.
State Street Global Advisors has launched the SPDR Nuveen Municipal Bond ETF (MBND), an actively managed ETF aimed at optimizing tax-exempt income through identified undervalued municipal bonds. In collaboration with Nuveen, the ETF seeks to balance current income with capital appreciation using a value-oriented strategy. The fund targets a weighted average duration of 4.5 to 7 years and aims for above-average returns while maintaining a gross expense ratio of 0.40%. This initiative reflects an effort to offer investors yield opportunities in a low-interest environment.
State Street Global Advisors has announced the closure and liquidation of several SPDR ETFs after a review of their offerings. The affected ETFs include the SPDR Solactive Canada ETF (ZCAN), SPDR Solactive Germany ETF (ZDEU), SPDR Solactive United Kingdom ETF (ZGBR), and others. The last day for creations and redemptions will be March 17, 2021, with trading suspended on March 18. Shareholders can expect to receive liquidation proceeds around March 24, 2021. This decision aims to streamline their ETF offerings and enhance overall portfolio management.
State Street Corporation (NYSE: STT) has expanded its collaboration with the Los Angeles County Employees Retirement Association (LACERA). This agreement enhances State Street's offerings, providing LACERA with advanced performance and analytics solutions, along with alternative administration for its real estate assets. LACERA will now access State Street's multi-asset class portfolio management platform, designed to offer insights into performance, risk, and cash management. This strategic move aims to improve LACERA’s governance and efficiency in managing its total fund requirements.
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.
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