State Street Corporation · NYSE:STT
State Street — Shareholder Meeting (May 2010)
26 slides from State Street's shareholder meeting presentation, May 19, 2010
Slide 1: Annual Meeting of Shareholders
May 19, 2010 Exhibit 99.1 Annual Meeting of Shareholders
Slide 2: Well Positioned for the Future
Joseph L. Hooley Chief Executive Officer Well Positioned for the Future
Slide 3: Reminder
Reminder This presentation contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our business, financial condition, results of operations and strategies, the financial and market outlook, governmental
Slide 4: Agenda
Well Positioned for the Future Strong Foundation Strategic Direction Investing in Strong Governance, Communities and CSR Summary Agenda
Slide 5: Strong Foundation
Strong Foundation
Slide 6: Strong Foundation
Well Positioned for the Future • Passed Federal Reserve stress test by a wide margin • Raised $2.3B in equity capital • Among the first to repay TARP and common stock warrant • Executed TCE Improvement Plan • Multi-year strategic plan in place • Broad-based organizational focus • Added $1.1T in asse
Slide 7: Strong Foundation — Client Wins in 2009 Include
Well Positioned for the Future Investment Servicing Investment Management • Charles Schwab • Morgan Stanley • Legg Mason • John Hancock • Caxton Associates • Canadian Western Trust • China Insurance Guaranteed Trust • Vanguard UK funds • Calamos Investments • Genworth Financial • Arizona Public Safe
Slide 8: Strong Foundation — Client Service / Industry Accolades
Well Positioned for the Future R & M 2009 Fund Accounting and Administration Survey Euromoney 2009 FX Survey Plansponsor 2009 Transition Management Survey Global Custodian 2009 Global Custody Survey Global Custodian 2009 Mutual Fund Administration Survey exchangetradedfunds.com 2009 Global ETF Award
Slide 9: Strong Foundation — Performance in 2009
Well Positioned for the Future PERFORMANCE FOR 12 MONTHS ENDED $ in millions, except per share data 12/31/09 12/31/08 % Change Operating-basis revenue $8,759 $10,477 (16.40)% Operating-basis expenses $5,667 $6,780 (16.42)% Operating-basis EPS $4.11 $5.61 (26.7)% Operating-basis ROE 15.6% 19.3% 1 Cal
Slide 10: Strategic Direction
Strategic Direction
Slide 11: Strategic Direction — Secular Trends Support Growth Prospects
Well Positioned for the Future • Asset managers increasingly invest beyond their borders • Asset management industry globalizing product and distribution strategies • Driven by demographics, especially in Europe and Asia • Evolution of retirement/savings schemes • Growing global trend driven by comp
Slide 12: Strategic Direction — Goals
Well Positioned for the Future • Double non-US revenues over the next five years • Drive industry innovation by maintaining technology investment at 20%-25% of operating expenses • Accelerate global market share growth in core businesses organically and through acquisition • Achieve positive operati
Slide 13: Acquisitions Expand European and Alternative Investment Presence
Well Positioned for the Future • Expands European footprint; establishes Italian market leadership. Highlights include: – Adds €369B in custody, fund administration, depository bank and Banca Corrispondente for €1.28B – Adds about €293M in annualized revenue – Goal is to retain about 90% of revenue
Slide 14: Strategic Direction — Growth Drivers in Investment Servicing
Well Positioned for the Future • Flight to quality and safety • Cost pressures on asset managers and asset owners • Heightened regulatory environment • Growing need for transparency, risk management and compliance • Investment Operations Outsourcing – No.1 in world: $7.1 trillion in middle-office as
Slide 15: Strategic Direction — Growth Drivers in Investment Management
Well Positioned for the Future • Need for a trusted, strategic partner • Focus on retirement funding levels • Institutions moving toward solution-based investments • Defined Contribution – Building on strong DB and recordkeeping relationships – Move towards passive and plan simplification • Cash Inv
Slide 16: Strategic Direction — Positioned for Growth
Well Positioned for the Future • Well positioned against secular growth trends • Trusted relationships with the world’s top financial institutions • Leading geographic and product market position • Proven track record executing accretive acquisitions • Talented global workforce Long-term Financial G
Slide 17: Strategic Direction — Expectations for 2010
Well Positioned for the Future • Continued strength in servicing and asset management fee revenue • Industry-wide factors constrain market-driven revenue (securities finance, trading, and net interest revenue) • Solid growth in revenue in 2010 compared to 2009 • Strong capital position • Effective c
Slide 18: Investing in Strong Governance, Communities and CSR
Investing in Strong Governance, Communities and CSR
Slide 19: Ratings Reflect Strong Governance Policies
Well Positioned for the Future 1 Compared to Diversified Financial Group (GICS code 4020) of 46 companies 2 As of 3/01/10 2004 2005 2006 2007 2008 2009 2010 RiskMetrics (Formerly ISS) 1 (relative percentage) 73.4% 77.8% 86.0% 89.2% 87.6% 97.2% 93.8% 2 Governance Metrics International (Scale of 1–10)
Slide 20: Philanthropy
Well Positioned for the Future The State Street Foundation provided 528 grants worldwide including: • North America – Teach for America – Year Up – Boys Club of Greater KC – Vital Link • Europe/Middle East/Africa – IT Fitness Project – National College of Ireland Foundation – Polish Environmental Pa
Slide 21: Volunteerism
Well Positioned for the Future State Street employees and Alumni dedicated over 72,000 hours including: • Earth Day • Food sorting and service • Skills-based volunteering & financial literacy • Community Mentoring • Support Drives / Fundraisers Executives active with many non-profit organizations in
Slide 22: Corporate Social Responsibility Practices
Well Positioned for the Future Organization Ranking Newsweek Magazine: Greenest US Companies No. 1 in financial services and No. 6 overall Global 100 Most Sustainable Organizations Highest-ranked financial services firm in 2009 Dow Jones Sustainability World and North America Indices One of only two
Slide 23: State Street
STATE STREET.
Slide 24: Summary
Well Positioned for the Future Strong Capital Industry-Leading Talent Deep Client Relationships and Global Reach Strong Governance Well Positioned Against Growth Trends Committed to Delivering Long-term Shareholder Value Summary
Slide 25: State Street
STATE STREET. Bee) STATE STREET. S|
Slide 26: State Street
STATE STREET. Bee) STATE STREET. S|