State Street Corporation Appointed To Service CAD300 Million In Assets For McCain Foods Limited
November 13, 2009 |
| State Street Corporation announced that it has been appointed by the McCain Foods Limited Canadian pension plans to provide custody, accounting, benefit payments, and investment analytics. |
State Street Corporation Reaffirms FY 2009 Guidance
November 6, 2009 |
| State Street Corporation announced that its outlook for fiscal 2009 remains unchanged with operating basis revenue expected to decline about 16% from the record level of 2008; operating earnings per share, excluding the impact of the extraordinary loss recorded upon consolidation of the commercial paper conduits in the second quarter of 2009, and the provision for legal exposure, to be between $4.13 and $4.17. According to Reuters Estimates, analysts are expecting the Company to report revenue of $8.582 billion for fiscal 2009. |
State Street Corporation To Service $2.2 Billion In Assets For Saskatchewan Teachers' Federation
November 2, 2009 |
| State Street Corporation announced that it has been appointed by the Saskatchewan Teachers' Federation to provide a range of investment services for CAD2.2 billion in pension and group benefit fund assets. State Street will provide custody, fund accounting, and securities lending services to the Federation. |
Intermountain Equity Group Appoints State Street Corporation To Provide Private Equity Administration Services For New Real Estate Fund
October 28, 2009 |
| State Street Corporation announced that it has been appointed to provide fund administration services for Intermountain Equity Group's (IEG) newly launched private equity fund. State Street will support IEG's new $400 million private equity real estate fund with a full range of administration services, including custody, accounting, financial reporting and tax services. Based in Sun Valley, Idaho, Intermountain Equity Group was established in April, 2009 by VP Companies, Inc. and Capital Partners, LLC. |
State Street Corporation Announces Leadership Succession Plan
October 22, 2009 |
| State Street Corporation announced its leadership succession plan. Chairman and Chief Executive Officer, Ronald E. Logue, will retire from State Street on March 1, 2010 and then continue to serve as Non Executive Chairman of State Street's Board of Directors for a transition period until January 1, 2011. Upon Logue's retirement on March 1, 2010, current State Street President and Chief Operating Officer, Jay Hooley, will be promoted to Chief Executive Officer. |
California Sues State Street Corporation, Alleges Overcharging-WSJ
October 21, 2009 |
| The Wall Street Journal reported that California's attorney general said the state sued State Street Corporation, alleging that the Company defrauded the state's two pension funds. Attorney General Jerry Brown said the suit filed in a state Superior Court in Sacramento in 2008 and unsealed Tuesday - contends State Street illegally overcharged the California Public Employees' Retirement System, or Calpers, and the California State Teachers' Retirement System, or Calstrs, by $56.6 million by improperly executing foreign-currency trades since 2001. Mr. Brown alleged the bank violated its contracts with the $200 billion Calpers and the $130 billion Calstrs. The suit seeks more than $200 million in damages. |
Intesa Sanpaolo S.p.A. In Talks With State Street Corporation For Sale Of Custodian Business -DJ
October 20, 2009 |
| Dow Jones reported that Intesa Sanpaolo S.p.A. is in talks with State Street Corporation on the possible sale of its custodian business unit. Intesa Sanpaolo, has already announced plans to sell its custodian business operations as part of a wider capital strengthening plan. |
State Street Corporation Lowers FY 2009 Revenue Guidance; Issues FY 2009 EPS Guidance Above Analysts' Estimates
October 20, 2009 |
| State Street Corporation announced that it expected its second half of 2009 to be stronger than it now appears to be. Given the slow pace of the recovery, its guidance for fiscal 2009 has changed slightly. The Company now expects operating revenue to decline about 16% from the record level of fiscal 2008 and operating earnings per share (EPS) to be between $4.13 and $4.17. The Company reported revenue of $10.477 billion in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report EPS of $4.12 on revenues of $8.637 billion for fiscal 2009. |
State Street Corporation Announces Quarterly Dividend
September 17, 2009 |
| State Street Corporation announced a quarterly dividend of $0.01 per share of common stock, payable October 15, 2009, to stockholders of record as of October 1, 2009. |
Recent News