State Street Corp (NYSE:STT)

$ 99.27 1.1 (1.12%) Market Cap: 29.10 Bil Enterprise Value: -46.41 Bil PE Ratio: 15.68 PB Ratio: 1.27 GF Score: 74/100

State Street Corp at RBC Capital Markets Financial Institutions Conference (Virtual) Transcript

Mar 09, 2022 / 04:20PM GMT

Release Date Price: $83.58 (+5.32%)

Transcript

Gerard Sean Cassidy

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

Good morning, everyone. This is Gerard Cassidy from RBC Capital Markets. Welcome back to another fireside chat at our 2022 Financial Institutions Conference.

With us for this fireside chat is State Street Corporation. Many of you obviously know State Street is the 10th largest commercial bank in the United States, with just around $314 billion in total assets. As you know, they also are one of the largest custody banks in the world. They have over $47 trillion under supervision. The company's stock trades at a small premium to book value, at around 1.2 to 1.3x as the market cap of almost $30 billion. And with us from State Street is Eric Aboaf. He's the Chief Financial Officer.

He joined State Street back in 2016 after spending some time as CFO at Citizens Financial Group. And then prior to that he was the CFO at Citi Group in the -- I'm sorry; he was global treasurer at Citi Group for 12 years prior to joining Citizens Financial. So Eric, thank you for

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