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Custody, management fees boost State Street’s earnings
It's a solid start for new State Street boss Jay Hooley. Custody fees at the company were up 15% in the first quarter of the year, while investment management fees rose by more than a quarter
Vanguard in focus as it takes on SSgA with S&P 500 ETF
Financial advisers are keeping a close eye on The Vanguard Group Inc.'s new Standard & Poor's 500 ETF to see how the exchange-traded fund performs and whether it can compete with State Street Global Advisors Inc.'s SPDR S&P 500 ETF (SPY).
SEC claims ex-State Street CIO misled investors
The Securities and Exchange Commission is charging two employees at State Street Bank and Trust Co. with misleading investors about their exposure to subprime investments.
Nuveen jumps into ETF market
Nuveen hopes this type of arrangement is just the first of many as it hopes to subadvise more muni bond ETFs
BlackRock’s Kristi Mitchem to join State Street: Sources
State Street Global Advisors tabs former Goldman and Barclays executive to head its defined contribution business
Settlement with SEC brings State Street’s subprime tab to $663M
State Street Bank and Trust Co. has agreed to pay more than $300 million to investors who lost money during the subprime meltdown in 2007 under a settlement announced today by the Securities and Exchange Commission.
State Street’s chairman and CEO Ronald Logue to step down
Ronald E. Logue, chairman and CEO of State Street Corp., will retire March 1, 2010, the company announced this afternoon.
State Street inks Morgan Stanley outsourcing deal
State Street Corp. will absorb 100 employees from Morgan Stanley Investment Management as part of a deal announced Monday to provide servicing for investments worth about $300 billion.
ETF providers to focus on better education for financial advisers
Exchange-traded-fund providers in the coming year will have to focus on making sure financial advisers understand their products — and how to use them in client portfolios — as they anticipate increased scrutiny from regulators and the media, according to participants at an ETF round table last week at InvestmentNews' New York offices.
State Street to buy Italian bank’s securities services biz for $1.87B
State Street Corp. said Tuesday that it will buy the securities services business of Italian banking group Intesa Sanpaolo for about $1.87 billion in cash.
State Street accused of $200M fraud, slammed with suit
California Attorney General Jerry Brown is suing State Street Bank and Trust Co., claiming it bilked the state's largest pension funds of more than $200 million.
ETF providers zero in on municipal-bond market
An exchange-traded fund launched last week offers investors access to hard-to-reach segments of the municipal-bond market. Another has been proposed.
State Street’s legal reserve may not be enough to cover subprime claims
State Street Corp. says a legal reserve of about $625 million it established two years ago may not be enough to cover claims and potential penalties related to fixed-income investments that included subprime mortgages.
State Street’s program teaches the ABCs of finance
State Street Global Advisors launched a campaign today designed to help financial advisers become resources to parents who want to teach their children about finances.
State Street GM’s largest stockholder, filing says
General Motors Corp.’s bankruptcy filing today listed State Street Bank & Trust as the company’s largest stockholder, with 17% of the stock.
State Street to raise funds to repay TARP
State Street Corp., a bank that specializes in serving institutional investors and wealthy customers, said Monday it plans to raise new funds through common stock and senior note offerings as part of an effort to repay a government loan.
ETF giant iShares is going after 401(k) market
Led by the iShares exchange traded fund group, exchange traded funds are poised to break the stranglehold that mutual funds have on 401(k) retirement plans.
State Street investigated in bond fund improprieties
Massachusetts Secretary of the Commonwealth William Galvin is investigating claims that State Street Corp. misled clients about the risk associated with one of its bond funds.
Religious order sues State Street, SSgA over losses
Sisters of Charity of the Blessed Virgin Mary, Dubuque, Iowa, has filed a civil suit alleging breach of fiduciary duty, breach of trust and unjust enrichment regarding losses from the order’s investment in an SSgA enhanced Dow Jones-AIG Commodities futures strategy.
Quants at SSgA unit trying a new spin
State Street Global Advisors Inc. is developing new quantitative models that don't go strictly by the numbers.
