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
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.