In announcing today’s financial results, Joseph L. Hooley, State Street’s Chairman and Chief Executive Officer, said, "Second-quarter and year-to-date 2018 results reflect strength across our asset servicing and asset management businesses as well as the benefit from higher net interest income. Importantly, year-to-date EPS growth of 30% compared to the first half of 2017 was supported by a 6% and 20% increase in servicing fees and management fees, respectively. Demand remains strong across our global client base as demonstrated by new servicing commitments announced in the first half of 2018 of $1.5 trillion."

Hooley added, "Through State Street Beacon, we have gained efficiencies across the organization, while delivering significant value and innovation to our clients. Building on the success of Beacon, we are now focused on achieving greater organizational effectiveness and streamlining to further advance the standardization and globalization of our business."

Hooley continued, "It continues to remain a priority to prudently manage expenses against the revenue environment and we remain on track to achieve our 2018 financial objectives."

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