State Street Corporation (FRA:ZYA)

€ 70.45 -0.52 (-0.73%) Market Cap: 21.37 Bil Enterprise Value: -66.87 Bil PE Ratio: 14.26 PB Ratio: 1.05 GF Score: 74/100

State Street Corp at Sanford Bernstein & Autonomous Research Financials Summit Transcript

Mar 07, 2019 / 02:30PM GMT

Release Date Price: €62.02 (-1.52%)

Transcript

Geoffrey Elliott

Autonomous Research LLP - Partner, Regional and Trust Banks

Good morning, everyone, I'm Geoff Elliott. I'm one of the bank's analysts at Autonomous. And I'm delighted to be joined up here by Eric Aboaf, CFO of State Street. During his career, Eric's been Treasurer of Citi and CFO of Citizens before making the move to State Street, which, of course, is Boston's biggest homegrown bank and one of the leading global custodians and asset managers.

Questions & Answers

Geoffrey Elliott

Autonomous Research LLP - Partner, Regional and Trust Banks

Maybe we can jump right into things. The fourth quarter of 2018 was a tougher quarter for State Street, and on the call that -- you indicated you could see fees drop 3% to 4% sequentially going into first quarter 2019 and stay depressed. But since then, markets seem to have shifted for the better, so how does that change your expectations?

Eric Walter Aboaf

State Street Corporation - Executive VP & CFO

Geoff, I think before I begin, let me just

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