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 provides financial services to institutional investors, with recurring updates tied to investment servicing, investment management, investment research and trading. Company news commonly covers earnings releases, client servicing mandates, ETF and mutual fund operating support, custody and fund administration capabilities, and product activity within State Street Investment Management.
Recent developments also include digital-asset and tokenized fund initiatives, such as the State Street Galaxy Onchain Liquidity Sweep Fund, along with active ETF launches and expanded support for ETF share-class structures. Governance updates, including board appointments, appear alongside operating and capital-markets news.
State Street Corporation (NYSE:STT) has been appointed back office servicing agent for Harbor Capital Advisors’ first actively managed fully transparent fixed income ETFs, launched in September. These include the Harbor Scientific Alpha Income ETF (SIFI) and the Harbor Scientific Alpha High-Yield ETF (SIHY). State Street will provide ETF servicing solutions such as custody, fund accounting, and order-taking. With over 30 years of partnership, State Street manages $58B in assets for Harbor and boasts $42.6 trillion in assets under custody. This collaboration is expected to enhance ETF growth.
State Street Global Advisors has launched the SPDR Loomis Sayles Opportunistic Bond ETF (OBND), an actively managed fund aimed at providing diverse income sources through a mix of investment-grade, high-yield, and non-U.S. dollar denominated debt. Managed by the Loomis Sayles Alpha Strategies team, it targets risk-adjusted total returns by navigating global credit conditions. The fund responds to the current low interest rate landscape, offering investors a solution for yield and diversification.
State Street Corporation (NYSE: STT) will announce its third-quarter 2021 financial results on October 18, 2021, at 7:30 a.m. ET. Investors can access the webcast at investors.statestreet.com and by phone at (833) 380-0399. A replay will be available for two weeks after the call. As of June 30, 2021, State Street had $42.6 trillion in assets under custody and $3.9 trillion in assets under management, operating in over 100 markets globally.
State Street Corporation (NYSE: STT) announced a public offering of 21,724,217 shares of its common stock at $87.60 per share, expected to close on September 14, 2021. The proceeds will fund part of the acquisition of Brown Brothers Harriman Investor Services. If the acquisition does not close, the funds will be used for general corporate purposes. The offering is underwritten by Goldman Sachs & Co. LLC and BofA Securities and registered under the Securities Act of 1933.
State Street Corporation (NYSE: STT) announced plans to sell 21,724,217 shares of common stock in an underwritten public offering. Proceeds will fund part of the cash consideration for acquiring Brown Brothers Harriman Investor Services. This offering is independent of the acquisition's completion and proceeds will be used for general corporate purposes if the acquisition does not finalize. Goldman Sachs and BofA Securities are the underwriters for this offering.
State Street Corporation (NYSE: STT) has announced its acquisition of Brown Brothers Harriman & Co. (BBH)’s Investor Services business for $3.5 billion. The deal targets completion by year-end 2021, subject to regulatory approvals. This acquisition will strengthen State Street’s position as the world’s leading asset servicer, increasing its Assets Under Custody to $37.3 trillion. The merger is expected to provide earnings accretion in the first year with an increased pre-tax margin target of 31% by 2023, thanks to estimated synergies of $260 million by year 3.
State Street Corporation (NYSE: STT) has been appointed by my529 to offer investment servicing solutions, aiming to enhance my529’s operational efficiency. my529, Utah's official nonprofit 529 educational savings plan, has over $20 billion in assets under management and serves more than 400,000 participants. The partnership will allow my529 to upgrade technology, streamline operational processes, and focus on growth. State Street will provide various services including accounting, NAV calculations, performance reporting, and trading services.
State Street Corporation has reached a proposed settlement regarding a derivative action that impacts shareholders as of June 24, 2021. The settlement does not involve any monetary compensation to shareholders. A court hearing is scheduled for October 13, 2021, to evaluate the settlement's fairness and to consider dismissing all claims in the litigation. Shareholders who do not object will be bound by the court's final judgment. State Street, a global financial services leader with $42.6 trillion in assets under custody, continues to serve institutional investors worldwide.
State Street Corporation (NYSE:STT) has launched its Collateral+ business, now operational with DTCC’s Margin Transit Utility (MTU). This new capability simplifies collateral transfer, enhances operational efficiency, and reduces risk by automating margin processes. Clients can now validate, enrich, and monitor collateral more effectively. With market volatility and final phases of uncleared margin rules, automation is increasingly crucial. State Street manages $3.9 trillion in assets, providing financial services worldwide.
State Street Corporation (NYSE:STT) announced participation of COO Lou Maiuri and CFO Eric Aboaf in the Barclays Global Financial Services Conference on September 13, 2021, at 10:30 am ET. The event will be virtual, and a webcast will be available on State Street’s Investor Relations page. A recorded replay will also be accessible post-event for two weeks. As of June 30, 2021, State Street manages $3.9 trillion in assets and holds $42.6 trillion in assets under custody worldwide.