STATE STREET CORP Q4 FY2024 earnings call

• Elizabeth Lynn apologized for a technology issue that prevented completing the Q&A portion of the previous week's earnings call. - Mark Keating discussed NII guide, covering headwinds (deposit mix/levels, rate environment) and tailwinds (loan growth, portfolio rollovers). - Mark Keating talked about servicing fee business, including growth in servicing fee sales, targets ($350 million to $400 million range), and revenue install backlog. - Eric Aboaf discussed Prime Services, its role in supporting clients, and securities finance revenues. - Ron O’Hanley spoke about SSGA's organic growth drivers, including product innovation, distribution capabilities, and adding retail intermediary expertise. - Eric Aboaf and Ron O’Hanley discussed loan growth tied to private markets clients and the ecosystem around it. - Ron O’Hanley talked about AI in technology, its use in client service and HR inquiries, and transformation powered by AI.

• NII guide considerations include deposit mix/levels, rate environment, loan growth, and portfolio rollovers. - Servicing fee sales target range of $350 million to $400 million. - SSGA expected double-digit fee growth. - Intention to return 80% of earnings to investors.

• Actual results may differ materially from forward-looking statements due to factors in SEC filings, including Risk Factors section in Form 10-K.

Q: Jim Mitchell asked about NII guide, asset sensitivity to non-US, deposit growth.

A: Mark Keating discussed NII guide from headwinds and tailwinds, including deposit mix/levels, rate environment, loan growth, and portfolio rollovers.

Q: Mike Mayo asked about core organic revenue growth rate in fee businesses, long-term growth rate.

A: Mark Keating and Ron O’Hanley talked about servicing fee business growth, sales targets, and long-term growth drivers.

Q: Glenn Schorr asked about Prime Services and SSGA rejuvenation.

A: Eric Aboaf discussed Prime Services role, and Ron O’Hanley talked about SSGA organic growth drivers.

Q: Brian Bedell asked about deposit raising and asset management.

A: Mark Keating and Ron O’Hanley discussed deposit engagement and SSGA performance.

Q: Brennan Hawken asked about deposit betas.

A: Eric Aboaf talked about deposit betas by currency.

Q: Gerard Cassidy asked about AI and loan portfolio disclosure.

A: Ron O’Hanley and Eric Aboaf discussed AI in technology and loan portfolio growth.

Q: Vivek Juneja asked about buybacks and Alpha business.

A: Ron O’Hanley and Mark Keating talked about buybacks and Alpha business details.

Q: David Smith asked about Alpha business and deposit betas.

A: Ron O’Hanley and Eric Aboaf discussed Alpha business and deposit beta analysis.