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Rating:State Street May Need To Make Cuts Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, September 12, 2012

State Street May Need To Make Cuts

News summary by MFWire's editors

Reuters reports that State Street [Profile] is looking to cut costs, but has no word as to whether or not this will affect State Street Global Advisors.

The report says that even with the technology streamlining currently going on at the bank, more expense cuts may need to me made to make up for low trading revenue.

"We're looking at everything," chief exec Jay Hooley said during a presentation at the Barclays Financial Services Conference, according to Reuters.

Hooley wasn't the only exec making news at the conference. An SSgA representative told the MFWire there would be no comment on any potential cuts until the firm's earnings report came out. 

Edited by: Ben Geier

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