State Street

The Boston trust bank has set up a division called State Street Digital, led by Nadine Chakar, that will help customers invest in cryptocurrencies. It will also develop blockchain and smart contract technology and the ability to tokenize assets.

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

The Boston-based firm has been informally working with an adviser to review strategic alternatives for State Street Global Advisors, including a merger with a competitor, people familiar with the matter said.

Under a rule issued in March, banks will build an additional capital cushion that is determined by their performance in the annual tests.

With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines.

Fed proposal is at odds with the one offered by the FDIC and OCC; judge wants to dispel the “myth” that student loans can’t be expunged in bankruptcy.

The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.

The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress.

Over the past year, State Street Corp. Chief Marketing Officer Hannah Grove has implemented a new “Follow the Sun” strategy for the marketing department, adding hires in Poland and India in an effort to cut costs that has yielded unexpected benefits.

The results clear the way for bigger dividends and stock buybacks at big banks; State Street agreed to pay $88 million to settle claims it overcharged clients.

State Street, BNY Mellon, UBS and Credit Suisse are among the banks that have created a company to bring their idea of a utility settlement coin to life.

Calls for getting more women into leadership positions, and strategies for achieving that, dominated the LEAD conference in New York.

Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects.

The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.

State Street Corp. said it’s laying off 1,500 staff as part of a plan to reduce costs.

New CEO Ronald O'Hanley is pushing to reduce expenses, automate more functions and simplify the organizational structure.

The custody bank was very profitable, and it raised its cost-saving forecast for year-end, but its nearly 3% increase in third-quarter noninterest expenses prompted an investor backlash.

Hannah Grove has made it her goal to make State Street's leaders better at storytelling, launching a two-day event that features TED-style talks with execs as well as influential names in fintech.

JPMorgan Chase, State Street, Wells Fargo, Citigroup and Bank of America decreased their holdings of tax-exempt bonds by nearly $16 billion in the first half of 2018, according to quarterly filings with the U.S. Securities and Exchange Commission.