STT News & Events

State Street Corporation has been appointed as service provider for Dimensional Fund Advisors' newly approved ETF share class structure. This is the first-of-its-kind in the U.S. under the U.S. Securities and Exchange Commission's final exemptive relief, allowing Dimensional to introduce ETF share classes within its actively-managed mutual fund lineup. Dimensional is the first U.S. asset manager to bring this structure to market, marking a significant milestone in ETF innovation. State Street will provide end-to-end service support, including custody, fund accounting, ETF basket creation, create / redeem order management, ETF settlement, transfer agency and reporting.

State Street announced the election of Susan Gordon to its Board of Directors.Gordon is an accomplished leader in national security, intelligence, and technology, with a career spanning over three decades at the highest levels of the U.S. government. As the former Principal Deputy Director of National Intelligence, she provided operational leadership across the agencies and organizations of the U.S. intelligence community.

Presenting at the RBC Capital Markets Global Financial Institutions Conference, an executive from State Street stated, according to a transcript of the event: "Right now, we're currently expecting the first quarter total revenue to increase in the low teens on a year over year basis, supported by similar growth in both fees and NII. And for the quarter, importantly, we expect to generate roughly 400 basis points of total operating leverage."