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Boston, MA— State Street Corporation (NYSE: STT), the world's leading
provider of financial services to institutional investors, announced today that it has received top
rankings in Global Custodian magazine's 2008 Securities Lending Survey. Global Custodian
rated State Street No. 1 in securities lending in two categories: among institutional investors with
$1 billion to $10 billion in lendable assets and those with more than $10 billion of assets to lend.
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| "State Street is succeeding among exactly the clients whose opinions the industry values most: the largest institutional fund managers and investors," Global Custodian wrote in an
analysis of poll results. "Pension funds, insurance companies and non-retail fund managers make up the bulk of (survey)respondents, and all of them accord the Boston-based bank with scores that are...somewhere between 'very good' and 'excellent' in all cases." |
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| "State Street is dedicated to providing customers worldwide with the industry's most comprehensive and innovative securities lending solutions," said Craig Starble, executive vice president and head of securities finance at State Street. "Our performance in this survey is a testament to this strong commitment, and we're honored to have our capabilities recognized by Global Custodian and our customers." |
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| Global Custodian survey respondents rated 10 firms' securities lending capabilities across eight categories within eight different disciplines: client service, compliance, earnings performance, operational capabilities, product development, relationship management, reporting and risk management. Based on respondents' grades, Global Custodian named State Street
"Best in Class" in 42 of 64 categories, more than any other provider. |
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| "This achievement is all the more impressive in light of the fact that State Street received
easily the largest number of (survey) responses," Global Custodian wrote. "Better still, the results
demonstrate the genuinely global reach of State Street, which now has securities lending teams
in every major financial center." |
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| State Street is a market leader in securities finance, with approximately $3 trillion in
lendable assets and nearly $650 billion in assets on-loan. The firm has been providing securities
lending services since 1974, and currently lends securities in more than 45 markets around the
world through a global network of trading locations. |
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| State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment
research and trading. With $15.3 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2008, State Street operates in 26 countries and more than 100
geographic markets worldwide. For more information, visit State Street's web site at
www.statestreet.com. |
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