State Street has hot Q2 in securities finance
04 August 2016 Boston
Image: Shutterstock
State Street’s securities finance revenue reached $156 million in Q2 2016 thanks to seasonality.
Revenue was 16.4 percent higher than Q1 2016’s $134 million and slightly above Q2 2015’s $155 million.
State Street enjoyed strong Q2 results overall, with core asset servicing and asset management fees fuelling growth.
Joseph Hooley, CEO and chairman of State Street, said: “Demand remains robust across our global client base as demonstrated by new servicing commitments of approximately $750 billion, including our appointment by Deka Bank and Allianz Global Investors to provide a range of investment services for $583 billion in assets.”
Revenue was 16.4 percent higher than Q1 2016’s $134 million and slightly above Q2 2015’s $155 million.
State Street enjoyed strong Q2 results overall, with core asset servicing and asset management fees fuelling growth.
Joseph Hooley, CEO and chairman of State Street, said: “Demand remains robust across our global client base as demonstrated by new servicing commitments of approximately $750 billion, including our appointment by Deka Bank and Allianz Global Investors to provide a range of investment services for $583 billion in assets.”
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