State Street

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.

They are disinclined to talk about it much yet, but the big three trust banks as well as JPMorgan and Goldman are said to be mulling custody services that would help shield wealthy bitcoin investors from theft. Here are the selling points and the risks.

Purchase of data firm and cancellation of a stock buyback rile shareholders; smaller banks are concerned tariffs could hurt business lending.

State Street said it would suspend a share repurchase program and issue common and preferred stock to pay for the deal.

Reconciling accounts, predicting market turns and their effects on portfolios, and even answering client faxes (yes, faxes) can all be done better with artificial intelligence, the custody bank says. Experts describe it as a cutting-edge program.