State Street sees upward pressure on regulatory compliance costs in 2014 State Street is targeting positive operating leverage for full-year 2014 and expects to achieve an incremental $130M in total pre-tax expense savings from our Business Operations and IT Transformation program. The company expects upward pressure on regulatory compliance costs in 2014. Operating-basis effective tax rate to be relatively unchanged from 2013
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State Street sees 3%-5% operating basis revenue growth for FY14 vs. FY13 Says outlook for 2014 is "positive." Sees 3%-5% operating basis revenue growth for FY14 vs. FY13. Expects to continue return of capital through dividends, repurchases. Says on track to deliver approximately $130M of incremental pre-tax expense savings in 2014 from Business Operations and Information Technology Transformation program. Says to achieve goal of annual operating leverage in 2014, will likely require improvement in market-driven revenue in 2H14. Says continuing to invest in growth initiatives. Comments from slides that will be presented at the Barclays Global Financial Services Conference.