State Street
US banks require $74.6 billion in additional capital, stress tests reveal
Ten US banks collectively require an additional $74.6 billion in additional capital to insulate against possible losses over the next two years, the results of US government stress tests show.
Kaplan and de Saint-Aignan join State Street board
Robert Kaplan, a former vice-chairman at Goldman Sachs, and Patrick de Saint-Aignan, ex-head of risk management at Morgan Stanley, have joined the board of State Street.
State Street names new chief risk officer
Boston-based financial services firm State Street has appointed Maureen Miskovic as its chief risk officer.
Auto loan ABS delinquencies rise
With uncertainty blighting the US economy, auto loan delinquencies have hit 10-year highs.
Hunt leaves as State Street takes subprime charge
William Hunt, the president and chief executive of State Street Global Advisors (SSGA), has resigned, as the hedge fund’s Boston-based parent company announced it would take a $279 million pre-tax charge for costs stemming from US subprime mortgages.
SSGA expands London team
State Street Global Advisors (SSGA), the investment management arm of State Street Corporation, has made several appointments to its London portfolio management teams, reflecting the expansion of the company’s UK business.
State Street hires three directors in Europe
State Street Corporation, the Boston-based financial services provider, has appointed three European directors to its board.
SSgA expands alternative strategies capabilities
State Street Global Advisors (SSgA) has unveiled a major expansion of its alternative strategies capabilities through several new initiatives, including the broadening of its absolute return strategies, new hires and entering into a licence for dynamic…
Soros risk chief joins rival fund
Peruvemba Satish, head of risk management at Soros Fund Management, has left the firm to join rival fund DKR Capital in Stamford, Connecticut, where he becomes chief risk officer.
Forex profits soar as funds up risk
Citigroup and State Street both reported surges in first-quarter foreign exchange revenue last week on the back of increased activity from fund managers, senior officials told RiskNews’ sister publication, FX Week .
State Street’s Snyder named head of forex trade body
Mark Snyder, US bank State Street’s global head of currency and money market sales and trading, has been appointed chairman of the Foreign Exchange Committee, a trade body.
State Street hires options chiefs in Asia and Europe
State Street has hired two regional foreign exchange options managers in newly created positions overseeing Asia and Europe.
Banks get set to prepare feisty responses to the US ANPR
NEW YORK - US banks are going to hit back hard at the country's regulatory agencies in their responses to the advance notice of proposed rulemaking (ANPR).
State Street launches dedicated hedge fund group
State Street Global Advisors (SSgA), the investment management arm of institutional fund manager State Street Corporation, has created a dedicated group for its hedge fund services, in a bid to cash in on increasing market demand for alternative…
Polaris and State Street launch first ETF on Taiwan exchange
Taiwan’s Polaris International Securities Investment Trust and Boston-based State Street Global Advisors have launched Polaris Taiwan Top 50 Tracker Fund (TTT), the first exchange-traded fund (ETF) to be listed on the Taiwan Stock Exchange. Trading on…
US Congress tries to tame Basel II
Members of the US House of Representatives have proposed a bill that would place Congress firmly in control of the nation's Basel II debate.
State Street expands foreign exchange options capability
Boston-headquartered State Street plans to expand its foreign exchange options business to better serve the needs of its clients, naming Hank Lynch as head of global foreign exchange options – a newly created position.
Op risk charge flawed, says State Street
WASHINGTON, DC - "It is difficult to see how a regulatory operational risk-based capital rule would have promoted the financial system’s rapid recovery on 9/11," said David Spina, chairman and chief executive officer of State Street Corporation, the…
DST acquires State Street’s risk management unit Askari
DST International, the software arm of US investment management services provider DTI Systems, has acquired State Street’s risk management software arm Askari for an undisclosed sum.
EIB to outsource derivatives collateral management
The European Investment Bank (EIB), the financing institution of the European Union, is set to outsource its derivatives collateral management activities to Dutch bank ABN Amro.
Extreme Outsourcing
"Lift-out" outsourcing projects by major institutional firms prime the pump for the rest of the industry.
Taiwan to launch first ETF
The Taiwan Stock Exchange (TSE) has granted a licence to asset management company State Street Global Advisors and Taiwanese securities firm Polaris International Securities Investment Trust to launch the country's first exchange-traded fund (ETF). The…
TradeWeb and Charles River partner for fixed-income product
Massachusetts-based trading systems vendor Charles River Development (CRD) and TradeWeb, a New Jersey-based fixed-income trading platform provider, have teamed to offer buy-side firms a fixed-income, straight-through processing (STP) service spanning the…
Multi-bank FX platforms double market share in last six months
Online multi-bank foreign exchange trading platforms have doubled their market share in the last six months, according to Justyn Trenner, chief executive officer of London-based research and analysis company ClientKnowledge.