BOSTON & LONDON--(BUSINESS WIRE)--Jan. 11, 2005--State Street
Corporation (NYSE: STT), the world's leading provider of services to
institutional investors, announced today that it has been ranked first
by International Securities Finance (ISF) magazine in its 2004
combined rankings assessment.
For the first time, the publication combined the results of its
annual Beneficial Owners and Global Equity Finance surveys to assess
which lending agent is best managing both the borrower and lender
sides of the business. In March, State Street was rated the Top Lender
(weighted) in ISF's Beneficial Owners Survey; in September, State
Street was named the Top Lender by borrowers for the fourth
consecutive year in the publication's Global Equity Finance Survey. In
addition, State Street placed first in all three regional categories
(Americas, Europe and Asia) of the Global Equity Finance Survey and
was ranked No. 1 for breadth of supply and global coverage.
"To be successful, an agent must, first and foremost, make a good
return for their underlying beneficial owners; however it is important
that they do not achieve this at the expense of the borrower
relationships," according to ISF. "State Street ranked first,
highlighting the fact that size can benefit both borrowers and
beneficial owners if handled diligently."
"We appreciate this recognition by ISF and our clients - both
borrowers and lenders -- and we feel it is a reflection of State
Street's ability to provide outstanding service and risk managed
solutions," said Edward J. O'Brien, executive vice president and head
of securities finance for State Street. "Our top-quality staff, global
presence and in-depth knowledge of the markets in which we operate are
key assets that enable us to effectively manage relationships and meet
client needs."
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 Web site, 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 provided securities lending services
since 1974, and 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 $9.0 trillion in assets under custody and $1.2 trillion in assets
under management, as of September 30, 2004, 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
Carolyn Cichon, 617-664-8672
SOURCE: State Street Corporation