State Street Corporation (NYSE:STT) Q2 2023 Earnings Conference Call July 14, 2023 10:00 AM ET Company Participants Ilene Fiszel Bieler - Global Head of Investor Relations Ronald P. O'Hanley - Chairman and Chief Executive Officer Eric Aboaf - Vice Chairman and Chief Financial Officer Conference Call Participants Brennan Hawken - UBS Alexander Blostein - Goldman Sachs Rob Wildhack - Autonomous Research Glenn Schorr - Evercore Sharon Leung - Wolfe Research Brian Bedell - Deutsche Bank Operator Good morning an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-07511 STATE STREET CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (I.R.S. Emp ...

State Street Corporation (NYSE:STT) Q1 2023 Earnings Conference Call April 17, 2023 9:00 AM ET Company Participants Ilene Fiszel Bieler - EVP & Global Head of IR Ronald P. O'Hanley - Chairman & CEO Eric Aboaf - Vice Chairman & CFO Conference Call Participants Kenneth Usdin - Jefferies Adam Beatty - UBS Betsy Graseck - Morgan Stanley Gerard Cassidy - RBC Capital Markets James Mitchell - Seaport Global Sharon Leung - Wolfe Research Ebrahim Poonawala - Bank of America Michael Mayo - Wells Fargo Securities Rob ...

1Q 2023 Financial Highlights April 17, 2023 NYSE: STT Preface and forward-looking statements This presentation includes certain highlights of, and also material supplemental to, State Street Corporation’s news release announcing its first quarter 2023 financial results. That news release contains a more detailed discussion of manyof the matters described in this presentation and is accompanied by an Addendum with detailed financial tables. This presentation is designed to be revi ...

Financial Performance - Total revenue for State Street Corporation increased by 5% year-over-year, reaching $12.5 billion for the fiscal year ended December 31, 2022[7]. - Net interest income rose by 8% to $3.2 billion, driven by higher interest rates and increased asset volumes[7]. - The company reported a provision for credit losses of $150 million, reflecting a 20% increase compared to the previous year, primarily due to economic uncertainties[7]. - Future guidance indicates a cautious outlook, with expected revenue growth of 3-5% for the upcoming fiscal year, contingent on market conditions[7]. - As of December 31, 2022, State Street Corporation had consolidated total assets of $301.45 billion, total deposits of $235.46 billion, and total shareholders' equity of $25.19 billion[9]. Assets Under Custody and Management - State Street's total assets under custody and administration (AUC/A) reached $38 trillion, a 6% increase from the prior year, indicating strong client demand[7]. - The company serviced AUC/A of approximately $36.74 trillion globally, with $26.98 trillion in the Americas, $7.14 trillion in Europe and the Middle East, and $2.63 trillion in the Asia-Pacific region as of December 31, 2022[13]. - State Street Global Advisors had AUM of approximately $3.48 trillion as of December 31, 2022, primarily weighted to indexed strategies[14]. Technology and Innovation - The firm plans to enhance its technology infrastructure, including the development of State Street Alpha and State Street Digital, to meet regulatory and client expectations[8]. - State Street Digital was established to focus on services related to digital assets, including blockchain and cryptocurrency, enhancing the company's digital investment cycle capabilities[13]. - The company expanded its State Street Alpha platform through the acquisition of Mercatus, Inc. in 2021, enabling the launch of Alpha for Private Markets[13]. Competitive Environment - The company anticipates a continued competitive environment, which may exert pricing pressure and impact profitability[8]. - State Street Corporation operates in a highly competitive environment, facing competition from various financial institutions and servicing companies globally[16]. - The company emphasizes technological expertise, economies of scale, and quality of service as key competitive factors in its Investment Servicing line of business[16]. Regulatory Compliance and Capital Management - The Basel III framework was fully implemented as of January 1, 2019, affecting the company's capital requirements and regulatory compliance[28]. - The minimum CET1 risk-based capital ratio required is 4.5%, with a minimum Tier 1 ratio of 6% and a total capital ratio of 8%[29]. - The current G-SIB surcharge is 1.0%, anticipated to remain at this level through December 31, 2024, subject to final calculations[29]. - The company must maintain a minimum Tier 1 leverage ratio of 4% and a supplementary leverage ratio (SLR) of 3%[31]. - Regulatory compliance costs have increased due to heightened expectations from U.S. and international regulators[32]. Workforce and Diversity - The workforce increased by approximately 9% in 2022, reaching around 42,000 employees, with 71% located outside the U.S.[17]. - At the end of 2022, the global workforce was approximately 55% male and 45% female, with women representing approximately 35% of leadership roles[23]. - In 2022, progress was made in seven out of eight diversity goals compared to 2021, achieving two goals and being within one percentage point of three others[22]. - The company has established enterprise-wide five-year diversity goals for gender and employees of color, with transparency about progress published on its website[22]. Community Engagement and Ethics - The company is committed to ethical conduct, treating minor policy breaches as learning opportunities while addressing major breaches seriously[20]. - The company’s skills-based volunteer program allows employees to develop professional skills while contributing to community service[25]. - The company actively engages in community support through employee volunteering and financial contributions via the State Street Foundation[25]. Strategic Initiatives - State Street is focusing on strategic acquisitions and partnerships to expand its market presence and improve service offerings[8]. - The company launched an internal talent marketplace in 2020 to redeploy employees and enhance career success pathways[20]. - The company emphasizes a hybrid work model to support productivity and client engagement post-COVID-19 pandemic[17]. Risk Management - The company faces risks related to geopolitical, economic, and market conditions that could adversely affect its business operations[8]. - The company acknowledged intense competition and pricing pressure as significant strategic risks affecting profitability[7]. - The transition away from LIBOR may result in additional costs and increased risk exposure for the company[8]. Governance and Oversight - The Board of Directors' Human Resources Committee oversees the human capital management strategy, focusing on recruitment, retention, and diversity initiatives[17]. - The company is subject to extensive governmental regulation, which may increase compliance costs and affect business activities[8]. - The company is required to submit a resolution plan biennially to demonstrate its resources and capabilities in case of major financial distress[42].

State Street Corporation (NYSE:STT) Q4 2022 Earnings Conference Call January 20, 2022 11:00 AM ET Company Participants Ilene Fiszel Bieler - EVP and Global Head of IR Ronald P. O’Hanley - Chairman and CEO Eric Aboaf - Vice Chairman and CFO Conference Call Participants Glenn Schorr - Evercore ISI Betsy Graseck - Morgan Stanley Kenneth Usdin - Jefferies Alexander Blostein - Goldman Sachs Brian Bedell - Deutsche Bank Brennan Hawken - UBS Steven Chubak - Wolfe Research Gerard Cassidy - RBC Capital Markets Micha ...

4Q and FY 2022 Financial Highlights January 20, 2023 NYSE: STT Preface and forward-looking statements This presentation includes certain highlights of, and also material supplemental to, State Street Corporation’s news release announcing its fourth quarter and full year 2022 financial results. That news release contains a more detailed discussion of many of the matters described in this presentation and is accompanied by an Addendum with detailed financial tables. This presentation is des ...

State Street Corporation (NYSE:STT) Q3 2022 Earnings Conference Call October 18, 2022 11:00 AM ET Company Participants Ron O’Hanley - Chairman and CEO Eric Aboaf - Vice Chairman and CFO Ilene Fiszel Bieler - EVP and Global Head of IR Conference Call Participants Glenn Schorr - Evercore ISI Ken Usdin - Jefferies Alex Blostein - Goldman Sachs Brennan Hawken - UBS Steven Chubak - Wolfe Research Brian Bedell - Deutsche Bank Jim Mitchell - Seaport Global Gerard Cassidy - RBC Capital Markets Michael Brown - Keefe ...