State Street Corporation (NYSE:STT)

$ 76.26 0.94 (1.25%) Market Cap: 22.97 Bil Enterprise Value: -72.23 Bil PE Ratio: 14.28 PB Ratio: 1.05 GF Score: 77/100

State Street Corp at BancAnalysts Association of Boston Conference Transcript

Nov 07, 2019 / 03:40PM GMT

Release Date Price: $72.66 (+2.35%)

Transcript

Gerard S. Cassidy;Eric Walter Aboaf

RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst;State Street Corporation - Executive VP

Good morning, everyone. Thank you, again, for joining us. We have State Street Corp. here with Eric Aboaf, who is their Chief Financial Officer as many of you know. And prior to joining State Street, Eric was at Citizens Financial. And prior to being with Citizens, he was with Citibank is their Treasurer, Corporate Treasurer, if I recall, for about 12 years.

Many of you know, State Street is one of the largest custody institutions in the world. It has a market cap today of about $26 billion, over $230 billion in assets. Assets under custody, is it -- it's just -- I don't know, Eric, if you think this, but $32.9 trillion, to me, is a staggering number, but obviously, it's going in assets under management of about $3 trillion.

Before we get into the conversation that Eric and I will have, he's got a disclaimer that he'd like to discuss, and then we'll go into a discussion.

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