Welcome to our dedicated page for State Str news (Ticker: STT), a resource for investors and traders seeking the latest updates and insights on State Str stock.
State Street Corporation (NYSE: STT) is a global financial institution focused on providing financial services to institutional investors, including investment servicing, investment management, and investment research and trading. The STT news feed on Stock Titan aggregates company announcements, Business Wire releases, and other disclosures that illustrate how State Street operates across markets and products.
Recent news highlights State Street Investment Management’s strategic initiatives, such as a planned minority investment, subject to regulatory approval, in Groww Asset Management Limited in India to support Indian-focused investment strategies, and partnerships with Galaxy Asset Management to develop a tokenized private liquidity fund that aims to provide onchain liquidity using stablecoins. Other releases describe State Street’s role as a service provider for actively managed UCITS ETFs launched by Columbia Threadneedle Investments and Dimensional Fund Advisors in Europe.
Investors and analysts following STT can also find announcements about quarterly and full-year financial results, dividend declarations on common stock, and corporate programs such as matching contributions to children’s savings accounts under a U.S. Treasury initiative. Additional items include participation in industry conferences, updates on the Select Sector SPDR ETF franchise, and technology developments at Charles River Development, a State Street company providing front-office investment management solutions.
This news page allows users to review how State Street communicates its business developments, capital markets activity, and product collaborations over time. By examining these updates together, readers can better understand the themes shaping State Street’s institutional services, ETF and fund servicing capabilities, asset management initiatives, and involvement in areas such as digital assets and sector-based investing.
S&P Global (NYSE: SPGI) has announced the appointment of Eric Aboaf as its new Chief Financial Officer, effective February 2025. Aboaf will oversee all aspects of the company's Finance function and report to Martina L. Cheung, S&P Global's incoming President and CEO. Aboaf joins from State Street (NYSE: STT), where he served as CFO for nearly eight years and Vice Chairman since 2022.
Aboaf brings extensive experience in financial services, having held CFO roles in multiple publicly traded companies. His background includes positions at Citizens Financial Group and Citigroup, as well as a partnership at Bain & Company. The appointment is part of S&P Global's leadership transition, with Cheung assuming her role as President and CEO on November 1, 2024.
State Street (NYSE: STT) has released its third-quarter 2024 financial results. The company has made available a news release, presentation, and additional financial information on its Investor Relations website. A conference call to discuss the financial results, outlook, and related matters is scheduled for 12:00 p.m. ET on Tuesday, October 15, 2024. The call is open to the public and can be accessed via the company's Investor Relations website or by phone at (+1) 800 717 1738 (Conference ID #26547). A replay of the call will be available on the website and by phone at (+1) 888 660 6264 (Playback Passcode: 26547#) for approximately one month following the conference.
State Street (NYSE: STT) has announced that Eric Aboaf, vice chairman and chief financial officer (CFO), will be leaving the company in February 2025 to pursue a new opportunity outside of banking. State Street has initiated a formal internal and external search process for Aboaf's successor. Aboaf will remain with the company until February to ensure a smooth transition.
Ron O'Hanley, chairman and CEO of State Street, praised Aboaf's eight-year tenure, highlighting his contributions to the company's financial and business performance, strengthening of the finance function, and role in developing the strategic growth plan. Aboaf expressed gratitude for his time at State Street and confidence in the company's future success.
State Street (NYSE: STT) has announced its strategic expansion into Mexico as part of its broader growth strategy for Latin America. The company has appointed Maria Ximena Vasquez Barbosa as Regional Sales Head Latin America & Caribbean to lead this expansion. Based in Mexico City, Maria Ximena will report to Oliver Berger, executive vice president and head of Emerging Growth Markets for State Street.
This move builds on State Street's existing operations in Colombia, Chile, and Peru, reflecting its commitment to serving the region's expanding financial markets. Maria Ximena brings over 20 years of experience in securities services, having previously worked for Citibank and Santander. She has been recognized as an industry leader for her collaboration with regulators and market participants in Colombia, Chile, and Peru.
Charles River Development, a State Street Company, announced that Operadora de Fondos Banorte, one of Mexico's largest mutual fund companies, has gone live on Charles River's cloud-based Investment Management Solution (IMS). Banorte will use the platform to modernize their front, middle, and back-office operations and streamline management of domestic and international equity, fixed income, and multi-asset portfolios.
The Charles River IMS offers automated workflows and straight-through processing for portfolio construction, performance attribution, order management, and compliance. It provides a global, multi-asset view of cash and positions in real-time, enhancing decision-making and operational efficiency. Alejandro Aguilar Ceballos, CEO of Operadora de Fondos Banorte, cited the need to manage complex global multi-asset portfolios and deliver innovative products as key drivers for adopting the platform.
State Street (NYSE: STT) and TCW have expanded their long-standing partnership to include middle office services. This builds on State Street's existing administrative and custody services for TCW's public and private fund complexes, as well as capital for TCW's alternatives platform. TCW will utilize State Street's Alpha services to integrate with its front-end platform, unifying the investment management process.
The partnership aims to enhance TCW's operational efficiency and scalability while maximizing technology investments. It also supports TCW's strategic growth initiatives, particularly in credit alternatives, which has seen a doubling of assets over the past four years. Both companies expressed enthusiasm about the expanded collaboration, emphasizing its alignment with TCW's commitment to innovation and operational excellence.
State Street (NYSE: STT) has announced an extension of its exchange traded fund (ETF) and mutual fund servicing relationship with VanEck, a leading global asset management firm. The extended agreement includes comprehensive support for VanEck's expanding range of ETF funds, reflecting State Street's commitment to providing innovative solutions for the global ETF marketplace.
The partnership builds on a long-standing relationship, with State Street serving as a full-service provider for VanEck's global ETF and mutual fund servicing needs, including digital asset ETFs. State Street was previously appointed as Administrator and Transfer Agent for VanEck's Bitcoin ETF (HODL) and more recently as Administrator, Transfer Agent, and Cash Custodian for the VanEck Ethereum ETF (ETHV).
State Street is currently the largest ETF administrator globally, servicing over 2,800 ETFs across 13 countries in a $13.5 trillion ETF marketplace. The company's ETF servicing business offers integrated global capabilities and proprietary technology to support clients in the growing ETF market.
State Street (NYSE: STT) has appointed Vanessa Fernandes as head of Digital Asset Solutions. Fernandes, based in New Jersey, will report to Donna Milrod, chief product officer at State Street. With over 25 years of financial services experience, Fernandes will drive the execution of State Street's digital asset strategy, partnering with leaders across product, technology, operations, and the Chief Commercial Office.
Prior to joining State Street, Fernandes was Managing Director and Global Head of Digital Experience at BNY. She also held senior leadership roles at Itaú Unibanco, including Chief Information Officer and CEO of Digital Assets. Her appointment follows State Street's recent strategic agreement with Taurus SA, aimed at enhancing the firm's digital asset capabilities, including tokenization and digital asset custody services.
State Street Global Advisors has launched the SPDR® SSGA MyIncome Suite, the industry's first actively managed corporate and municipal target maturity ETFs. This suite consists of 14 ETFs with maturity years ranging from 2026 to 2034, including nine corporate bond and five municipal bond ETFs.
The ETFs are designed to help investors build custom bond ladder portfolios, managing interest rate risks, cash flows, and liquidity needs. They use a risk-aware, top-down approach combined with bottom-up security selection to overweight attractive sectors and issuers.
These ETFs aim to provide active exposure to corporate and municipal bonds with defined maturity dates, potentially benefiting retirees seeking predictability and capital preservation. The investment strategies focus on maximizing current income while preserving capital through a robust investment process and prudent risk management.
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.