Advertisement
YOU ARE HERE: LAT HomeCollectionsState Street Corp
IN THE NEWS

State Street Corp

FEATURED ARTICLES
BUSINESS
December 9, 1999 | Reuters
Citigroup Inc., the No. 1 financial services company, said it agreed to form a new company with State Street Corp. that will provide pension plans and other services in the U.S. and abroad. In addition to pension plans, the new venture, to be called CitiStreet, will offer defined contribution and health and welfare plans when it begins operations in the first half of 2000. The venture will focus on corporate and not-for-profit organizations, the companies said.
ARTICLES BY DATE
BUSINESS
October 21, 2009 | Marc Lifsher
A Boston bank cheated California's two largest employee pension funds of nearly $57 million by inflating fees it charged for foreign currency trades, according to a suit filed Tuesday by the state attorney general's office. The pension funds, including the giant California Public Employees' Retirement System, didn't even know they were being fleeced by State Street Corp., the state's lawyers said. The scheme was uncovered by whistle-blowers with firsthand knowledge of how State Street operated, they said.
Advertisement
BUSINESS
June 24, 2003 | From Bloomberg News
Discount broker Charles Schwab Corp. is taking another step to expand its base of wealthy customers: The firm has agreed to buy the private-asset management business of State Street Corp. for about $300 million, a person familiar with the matter said. Boston-based State Street, the world's largest custodian of assets, probably will announce the sale of the unit, which manages $13 billion for wealthy investors, to San Francisco-based Schwab's U.S. Trust Corp. this week, the person said. U.S.
BUSINESS
November 9, 2007
Standard & Poor's said Thursday that a collateralized debt obligation, or CDO, managed by State Street Corp. began liquidating its assets, prompting the ratings firm to slash the investment vehicle's credit grades as much as 18 levels. The ratings on the most senior class of Carina CDO Ltd. were lowered to BB, two levels below investment grade, from AAA, while another AAA class was slashed 18 steps to CCC-minus. The chance of material losses to note holders is high, New York-based S&P said.
BUSINESS
November 9, 2007
Standard & Poor's said Thursday that a collateralized debt obligation, or CDO, managed by State Street Corp. began liquidating its assets, prompting the ratings firm to slash the investment vehicle's credit grades as much as 18 levels. The ratings on the most senior class of Carina CDO Ltd. were lowered to BB, two levels below investment grade, from AAA, while another AAA class was slashed 18 steps to CCC-minus. The chance of material losses to note holders is high, New York-based S&P said.
BUSINESS
June 26, 2003
* San Francisco-based Charles Schwab Corp., the biggest U.S. discount broker, agreed to buy the private asset management unit of State Street Corp. in Boston for about $365 million to bolster the New England presence of Schwab's business that caters to wealthy investors.
ENTERTAINMENT
September 19, 2007
Kennedy redux: HBO said Tuesday it was planning to make a 10-part miniseries out of Vincent Bugliosi's book "Reclaiming History: The Assassination of President John F. Kennedy," which makes the case that Lee Harvey Oswald acted alone in killing the president. Big gift: The Museum of Fine Arts, Boston has received a $10-million gift from financial services company State Street Corp., the largest corporate gift in the museum's 130-year history. The boss: The site for the Oct. 28 L.A.
BUSINESS
November 23, 2005 | From Reuters
Financial regulator NASD on Tuesday fined a State Street Corp. unit $1.4 million because it failed to properly report bond trades totaling $5 billion during a 17-month period. Calling the matter a "serious offense" that might have hurt other investors, NASD said State Street's Global Markets unit did not report to regulators the bulk of corporate bond and municipal bond trading transactions made between July 2003 and December 2004.
BUSINESS
August 27, 2004 | From Bloomberg News
BlackRock Inc., the largest publicly traded U.S. manager of bond funds, agreed to buy State Street Research & Management from MetLife Inc. for $375 million to broaden its stock and real estate investments. MetLife will receive $325 million in cash and $50 million in stock, BlackRock and MetLife, both based in New York, said in a statement. The price may increase by as much as 25% if the transaction meets certain undisclosed conditions, they said.
BUSINESS
October 21, 2009 | Marc Lifsher
A Boston bank cheated California's two largest employee pension funds of nearly $57 million by inflating fees it charged for foreign currency trades, according to a suit filed Tuesday by the state attorney general's office. The pension funds, including the giant California Public Employees' Retirement System, didn't even know they were being fleeced by State Street Corp., the state's lawyers said. The scheme was uncovered by whistle-blowers with firsthand knowledge of how State Street operated, they said.
ENTERTAINMENT
September 19, 2007
Kennedy redux: HBO said Tuesday it was planning to make a 10-part miniseries out of Vincent Bugliosi's book "Reclaiming History: The Assassination of President John F. Kennedy," which makes the case that Lee Harvey Oswald acted alone in killing the president. Big gift: The Museum of Fine Arts, Boston has received a $10-million gift from financial services company State Street Corp., the largest corporate gift in the museum's 130-year history. The boss: The site for the Oct. 28 L.A.
BUSINESS
November 23, 2005 | From Reuters
Financial regulator NASD on Tuesday fined a State Street Corp. unit $1.4 million because it failed to properly report bond trades totaling $5 billion during a 17-month period. Calling the matter a "serious offense" that might have hurt other investors, NASD said State Street's Global Markets unit did not report to regulators the bulk of corporate bond and municipal bond trading transactions made between July 2003 and December 2004.
BUSINESS
August 27, 2004 | From Bloomberg News
BlackRock Inc., the largest publicly traded U.S. manager of bond funds, agreed to buy State Street Research & Management from MetLife Inc. for $375 million to broaden its stock and real estate investments. MetLife will receive $325 million in cash and $50 million in stock, BlackRock and MetLife, both based in New York, said in a statement. The price may increase by as much as 25% if the transaction meets certain undisclosed conditions, they said.
BUSINESS
June 26, 2003
* San Francisco-based Charles Schwab Corp., the biggest U.S. discount broker, agreed to buy the private asset management unit of State Street Corp. in Boston for about $365 million to bolster the New England presence of Schwab's business that caters to wealthy investors.
BUSINESS
June 24, 2003 | From Bloomberg News
Discount broker Charles Schwab Corp. is taking another step to expand its base of wealthy customers: The firm has agreed to buy the private-asset management business of State Street Corp. for about $300 million, a person familiar with the matter said. Boston-based State Street, the world's largest custodian of assets, probably will announce the sale of the unit, which manages $13 billion for wealthy investors, to San Francisco-based Schwab's U.S. Trust Corp. this week, the person said. U.S.
BUSINESS
December 9, 1999 | Reuters
Citigroup Inc., the No. 1 financial services company, said it agreed to form a new company with State Street Corp. that will provide pension plans and other services in the U.S. and abroad. In addition to pension plans, the new venture, to be called CitiStreet, will offer defined contribution and health and welfare plans when it begins operations in the first half of 2000. The venture will focus on corporate and not-for-profit organizations, the companies said.
BUSINESS
September 28, 1994 | From Times Staff and Wire Reports
Micron Technology Inc. said it expects to spend $450 million to expand chip-making capacity next year, and it denied Wall Street suggestions of a looming price cut on its most popular memory chip. . . . DST Systems Inc. and Kemper Financial Services Inc. agreed to sell Investors Fiduciary Trust Co. to State Street Boston Corp. for $225 million in stock.
NEWS
September 28, 2001 | From Times Wire Reports
Acting Massachusetts Gov. Jane Swift named a former corporate executive and ex-Marine to head a panel to improve security at Boston's Logan International Airport, where hijackers boarded two planes and crashed them into New York's World Trade Center. Marshall Carter, former chief executive of State Street Corp.
Los Angeles Times Articles
|