Director of Bank and Equity Strategies Marty Mosby of Vining Sparks says State Street Corp (NYSE:STT) has a strong organic growth strategy as it leverages technology investments and invests in new products and services.
Another bank that we like, one of the trust banks, is State Street, which has invested in its technology and is going to leverage that into operational efficiencies in the second half of 2017. It has a strong pipeline of new business at what we think is better pricing than what State Street just lost in the recent BlackRock (NYSE:BLK) announcement, when there was a transition of $1 trillion dollars to one of its competitors in its core custody assets.
We think that their new growth and new business will more than offset that as they move forward, and they’ve invested in a new product and service that they’re rolling out that I think can be very valuable to their primary customer base, which is institutional investors, where they can help them understand flows in the market much better and in real time — much better information than anybody has up till this point.
H.R. 529 and S. 2136 Would Allow Smaller BDCs to Increase Leverage
December 24, 2012