Latest news with #RonO'Hanley
Business Wire
6 days ago
- Business
- Business Wire
State Street to Speak at the Morgan Stanley U.S. Financials Conference
BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that its Chairman & Chief Executive Officer, Ron O'Hanley, and its interim Chief Financial Officer, Mark Keating, will present at the Morgan Stanley U.S. Financials Conference in New York, NY on Wednesday, June 11, 2025 at approximately 9:00 am ET. An audio webcast of the event will be accessible on the home page of State Street's Investor Relations website, A recorded replay will be available on the Investor Relations website later that day, for approximately ninety days following the presentation. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.7 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of March 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at *Assets under management as of March 31, 2025 includes approximately $106 billion of assets with respect to SPDR ® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
Reuters
17-04-2025
- Business
- Reuters
State Street's quarterly profit jumps 39% on strong fee income, lower expenses
April 17 (Reuters) - Custodian bank State Street (STT.N), opens new tab on Thursday reported a 39% jump in first-quarter profit, benefitting from lower expenses and higher fees earned from managing client assets. The bank's assets under custody and administration rose 6% to $46.7 trillion in the three months ended March 31 from a year earlier, driven by higher market levels and flows. Its total fee revenue climbed 6% to $2.57 billion in the quarter. However, the turmoil in financial markets caused by the uncertainties around U.S. trade policy is expected to hit trust banks' fee income from servicing and asset management businesses. Analysts say State Street is most exposed to the declining markets among trust banks, given that a bigger share of its revenue comes from servicing and asset management. "The world's investors and the global economy are now navigating through a period of geopolitical and government policy uncertainty around trade, deficits, tax, and deregulation," CEO Ron O'Hanley said. "The current environment provides a unique opportunity for us to demonstrate the strength and effectiveness of our value proposition to clients." Analysts expect the impact to be more visible in the second quarter, given the lagged effect of market weakness. State Street's expenses fell 3% to $2.45 billion in the first quarter, helped by the absence of a prior-year one-time charge. Its quarterly profit rose to $644 million, or $2.04 per share, from $463 million, or $1.37 per share, a year earlier. The bank's foreign exchange trading services revenue jumped 9.4% to $362 million in the quarter, boosted by higher market volatility. Rival BNY (BK.N), opens new tab last week beat quarterly profit expectations on higher interest income. Meanwhile, Northern Trust (NTRS.O), opens new tab is set to report its results next week, winding up the earnings season for trust banks. State Street's shares have plunged 19% this year, compared with a 10% slide in the benchmark S&P 500 index (.SPX), opens new tab as of last close.
Yahoo
17-04-2025
- Business
- Yahoo
State Street's quarterly profit jumps 39% on strong fee income, lower expenses
(Reuters) -Custodian bank State Street on Thursday reported a 39% jump in first-quarter profit, benefitting from lower expenses and higher fees earned from managing client assets. The bank's assets under custody and administration rose 6% to $46.7 trillion in the three months ended March 31 from a year earlier, driven by higher market levels and flows. Its total fee revenue climbed 6% to $2.57 billion in the quarter. However, the turmoil in financial markets caused by the uncertainties around U.S. trade policy is expected to hit trust banks' fee income from servicing and asset management businesses. Analysts say State Street is most exposed to the declining markets among trust banks, given that a bigger share of its revenue comes from servicing and asset management. "The world's investors and the global economy are now navigating through a period of geopolitical and government policy uncertainty around trade, deficits, tax, and deregulation," CEO Ron O'Hanley said. "The current environment provides a unique opportunity for us to demonstrate the strength and effectiveness of our value proposition to clients." Analysts expect the impact to be more visible in the second quarter, given the lagged effect of market weakness. State Street's expenses fell 3% to $2.45 billion in the first quarter, helped by the absence of a prior-year one-time charge. Its quarterly profit rose to $644 million, or $2.04 per share, from $463 million, or $1.37 per share, a year earlier. The bank's foreign exchange trading services revenue jumped 9.4% to $362 million in the quarter, boosted by higher market volatility. Rival BNY last week beat quarterly profit expectations on higher interest income. Meanwhile, Northern Trust is set to report its results next week, winding up the earnings season for trust banks. State Street's shares have plunged 19% this year, compared with a 10% slide in the benchmark S&P 500 index as of last close. Sign in to access your portfolio
Yahoo
04-02-2025
- Business
- Yahoo
State Street to Speak at the UBS Financial Services Conference
BOSTON, February 04, 2025--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that its Chairman & Chief Executive Officer, Ron O'Hanley, will present at the UBS Financial Services Conference in Miami, FL on Tuesday, February 11, 2025 at approximately 10:30 am ET. An audio webcast of the event will be accessible on the home page of State Street's Investor Relations website, A recorded replay will be available on the Investor Relations website later that day, for approximately ninety days following the presentation. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.6 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of December 31, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at *Assets under management as of December 31, 2024 includes approximately $82 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. View source version on Contacts Investor: Elizabeth Lynn+1 617 664 3477Media: Carolyn Cichon+1 617 664 8672 Sign in to access your portfolio
