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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 (NYSE: STT) has announced additional deposit placements through two minority depository institutions (MDIs) and Community Development Financial Institutions (CDFIs): Leader Bank in Massachusetts and Local Bank in Oklahoma. This is part of State Street's $100 million program launched earlier this year, with 75% of funds already placed. The initiative aims to provide low-cost, stable deposit funding to underserved communities.
State Street will host an event on September 17 for CEOs and executive leadership of all seven banks participating in its MDI/CDFI deposit program. This convening will focus on enhancing partnerships and driving further community impact. The program aligns with State Street's ongoing efforts to address racism and inequality, including its 10 Actions plan announced in 2020 and the completion of an independent Civil Rights Audit.
State Street Global Advisors has launched three actively managed digital asset and disruptive technology ETFs, sub-advised by Galaxy Asset Management. The new funds are:
- SPDR® Galaxy Digital Asset Ecosystem ETF (DECO)
- SPDR® Galaxy Hedged Digital Asset Ecosystem ETF (HECO)
- SPDR® Galaxy Transformative Tech Accelerators ETF (TEKX)
These ETFs aim to capitalize on market inefficiencies and evolving trends in the rapidly changing digital landscape. They offer active management of digital asset exposures, focusing on companies benefiting from blockchain and digital asset industries, as well as cryptocurrency exposures through ETFs and futures. HECO incorporates options strategies to manage volatility, while TEKX targets companies supporting new disruptive technologies like blockchain and AI.
State Street Global Advisors, part of State Street (NYSE: STT), and Apollo Global Management (NYSE: APO) have announced a collaboration to expand investor access to private market opportunities. This partnership aims to democratize access to private assets, which have nearly tripled in the last decade. The initiative will focus on making private market investments more accessible through ETFs and other investment products advised by State Street Global Advisors.
Key points:
- Private assets are one of the fastest-growing sectors in finance
- The partnership combines strengths of two market leaders
- Goal is to increase accessibility to private markets for a wider range of investors
- Focus on private investment grade credit and other private fixed income and equity strategies
- Apollo reported over $145 billion of origination in the last twelve months as of June 30, 2024
State Street Global Advisors, part of State Street (NYSE: STT), has launched three new ETFs to expand investment options for clients:
1. SPDR SSGA US Equity Premium Income ETF (SPIN): An actively managed ETF designed to enhance income through a dynamic call writing program while maintaining potential for long-term capital growth. Priced at 25 basis points.
2. SPDR S&P Emerging Markets ex-China ETF (XCNY): Tracks a market cap-weighted index of emerging market companies, excluding China. Priced at 15 basis points, the lowest-cost fund in its category.
3. SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY): Seeks to track the Bloomberg Enhanced Roll Yield Total Return Index, offering broad commodities exposure with a focus on diversification and enhanced roll yields.
These new ETFs aim to help investors capture opportunities, manage risk, and customize their portfolios more effectively.
State Street (NYSE: STT) has been selected by Challenger , an Australian investment management firm, to provide custody and investment administration services for assets worth A$127 billion. This partnership involves State Street's Alpha® platform, integrating front-, middle-, and back-office operations. The deal covers Challenger's entire group, including Fidante, Challenger Investment Management, and Challenger Life.
As part of this agreement, approximately 100 Challenger employees will transfer to State Street in October. David Mackaway, current CEO of Artega, will also join State Street, bringing significant industry experience. This move strengthens State Street's position in the Australian market and enhances its capacity to serve complex client needs.
State Street (NYSE: STT) has announced that its Vice Chairman and CFO, Eric Aboaf, along with COO Mostapha Tahiri, will be presenting at the Barclays 22nd Annual Global Financial Services Conference in New York. The presentation is scheduled for Monday, September 9, 2024, at approximately 11:15 AM ET.
Investors and interested parties can access an audio webcast of the event through State Street's Investor Relations website. For those unable to attend live, a replay of the webcast will be available on the same website for about 90 days following the presentation, providing ample opportunity for review and analysis.
State Street (NYSE: STT) has announced the date for its third-quarter 2024 financial results release. The results will be made public on Tuesday, October 15, 2024, at approximately 7:30 a.m. ET. Following the release, a conference call to discuss the financial results is scheduled for 12:00 p.m. ET on the same day.
Investors and interested parties can access the call via an audio webcast on State Street's Investor Relations website or by telephone. For those unable to attend the live event, a replay will be available on the website and via telephone for approximately one month after the call.
State Street Global Advisors, the asset management arm of State Street (NYSE: STT), has announced a strategic investment in Raiz Invest (ASX: RZI), a leading Australian fintech platform. The investment involves acquiring approximately 5% of Raiz's share capital through a placement, deepening State Street's commitment to the Australian market.
This strategic relationship aims to combine State Street's brand and market knowledge with Raiz's mobile-first platform, which helps Australian retail investors with micro-investments in ETFs and model portfolios. Raiz customers will gain access to a broader array of financial literacy content and investment education tools leveraging State Street's international resources.
The partnership is expected to benefit Raiz's Australian customers, ranging from beginners to experienced investors, by providing enhanced educational tools and innovative savings and investment insights. State Street's SPDR® S&P/ASX 200 Fund (ASX: STW) is currently the largest single fund holding in Raiz's model investment portfolios.
State Street (NYSE: STT) has announced the issuance of $1 billion in senior debt, with a focus on inclusion and diversity in the financial services industry. The offering involved five broker-dealers owned by underrepresented groups, collectively underwriting 40% of the securities. This marks State Street's fourteenth consecutive offering structured to align with its inclusion, diversity, and equity strategy.
The underwriting syndicate included R. Seelaus & Co., as a joint book-running manager, along with CastleOak Securities, L.P., Drexel Hamilton, , Independence Point Securities , and Samuel A. Ramirez & Company, Inc. as co-managers. HSBC Securities (USA) Inc., BofA Securities, Inc., and Deutsche Bank Securities Inc. also acted as joint book-running managers.
State Street (NYSE: STT) has announced a strategic agreement with Taurus SA to enhance its digital asset capabilities for institutional investors. This collaboration will integrate tokenization and digital custody services into State Street's existing Fund Administration and Accounting capabilities for Digital Assets.
Subject to regulatory approvals, State Street will leverage Taurus' fully integrated custody, tokenization, and node-management solutions to automate the issuance and servicing of digital assets. The partnership aims to meet the growing institutional interest in digital assets by utilizing Taurus' products: Taurus-PROTECT, Taurus-CAPITAL, and Taurus-EXPLORER.
This agreement is part of State Street's ongoing commitment to establish itself as a leader in the digital asset space and enhance its State Street Digital Asset Solutions offering.
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