State Street sees FY14 revenue up 3%-5%, consensus $10.47B State Street expects FY14 revenue growth of 3-5% compared to 2013, under the following assumptions: Strong execution of top priorities; Modest increases in market interest rates by later in 2014; Equity markets to remain close to year-end 2013 levels for full-year 2014; and improvement in market conditions for both its securities finance and trading businesses. Guidance in slides for Q4 earnings conference call.
State Street appointed by Hartford Funds to assist in providing custody services State Street announced that it has been appointed by Hartford Funds to assist in providing custody and accounting services for $93.6B in assets under management, which includes $20.6B in mutual funds supporting variable annuity and investment products. Hartford Funds is a leading provider of mutual funds.
State Street says legal accrual does not affect Q4, FY14 results The increased legal accrual does not affect State Streetís previously announced operating-basis Q4 and FY14 financial results, which are not presented on a GAAP-basis.