State Street’s Earnings Drop, While AUM Steadily Rises with Market
Posted on 07/19/2019
State Street Corporation revealed its second quarter 2019 financial performance. The custodial giant continues to lose fee revenue, while slowly growing assets under management compared to many of its U.S. peers. State Street has been cutting costs, by reducing headcount and migrating resources to make processes more efficient. The bank has been trying to monetize its recent acquisition of Charles River Development (CRD). Net income was US$ 587 million for the second quarter of 2019 versus US$ 733 million for the second quarter of 2018.
State Street Financials and AUM
|Period||Fee revenue USD||Assets under management USD||Fee Growth by Quarter||AuM Growth by Quarter|