State Street Corp (LTS:0L9G)

$ 97.9995 -0.2605 (-0.27%) Market Cap: 28.66 Bil Enterprise Value: -46.85 Bil PE Ratio: 15.45 PB Ratio: 1.25 GF Score: 69/100

State Street Corp at RBC Capital Markets Global Financial Institutions Conference Transcript

Mar 05, 2024 / 02:20PM GMT

Release Date Price: $73.61 (-1.75%)

Transcript

Gerard Sean Cassidy

RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst

Hello, everyone. We have our second fireside chat with State Street Corp. Joining me is their CFO and Vice Chairman, Eric Aboaf. As many of you know, Eric joined State Street back in 2016. He had a short stint over its Citizens Financial prior to that. And then before joining Citizens, he was at Citigroup for a number of years.

Many of you know that State Street is our tenth largest bank in the United States with assets of almost $300 billion. It has $42 trillion of assets under custody, and it drives 78% of its total revenue from noninterest income, which differentiates it from a traditional bank. In the fourth quarter, it put up an ROTCE of about 18.8%.

So Eric, thank you for joining us. Maybe we can start off with...

Eric Walter Aboaf

State Street Corporation - CFO & Vice Chairman

And just to satisfy in terms of legal requirements, I'm going to remind everyone before I get started, today's discussion may

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