LONDON--(BUSINESS WIRE)--Sept. 1, 2004--State Street Corporation
(NYSE: STT), the world's leading provider of services to institutional
investors, announced today that it has been named Top Lender (as rated
by borrowers) for the fourth consecutive year in ISF Magazine's 2004
Global Equity Finance Survey.
In addition to its position as the top overall lender, State
Street placed first in all three regional categories (Americas, Europe
and Asia) and was ranked number one in the breadth of supply and
global coverage service categories.
According to ISF, "State Street has managed to come top of the
lenders' league table for the fourth consecutive time. Retaining the
number one position is no mean feat for a bank that has been
completing the integration of residual balances from the Deutsche
agency lending business that it purchased around the turn of 2003."
The 2004 Global Equity Finance Survey provides an impartial
evaluation of the opinion of borrowers and lenders on the firms they
work with as counterparties. The category questions are designed to
take into account quality and quantity of supply. Counterparties were
asked to evaluate each other according to a variety of business
factors including product depth, market knowledge, risk management and
professionalism.
"State Street is once again proud to have earned these rankings
from ISF and our lending partners," said Ed O'Brien, executive vice
president and head of securities finance for State Street. "Our top
priority is to provide the best quality service in the industry and we
appreciate this recognition. We will continue to work hard in the
months and years ahead to remain innovative, competitive and
responsive to market and client demands."
ISF is a quarterly magazine providing independent coverage of the
securities financing and repurchase, prime brokerage and hedge fund
industries. It is the only magazine dedicated to reporting all
regulatory, tax legal and market developments in this business. ISF
also operates a daily updated website, www.isfmagazine.com.
State Street lends securities in more than 35 markets around the
world via a global network of trading locations -- providing clients
with around-the-clock opportunities, as well as regional expertise and
experience. State Street has been providing securities lending
services since 1974, and in that time it has developed an
industry-leading approach to risk and return management. Its
securities lending program is available to all institutional investors
worldwide, whether their assets are held in custody at State Street or
elsewhere. For more information, visit
www.statestreet.com/securitiesfinance.
State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and trading.
With $9.1 trillion in assets under custody and $1.2 trillion in assets
under management, State Street operates in 24 countries and more than
100 markets worldwide. For more information, visit State Street's Web
site at www.statestreet.com.
CONTACT: State Street CorporationHannah Grove, 617-664-3377
or
State Street CorporationCarolyn Cichon, 617-664-8672
SOURCE: State Street Corporation