State Street (STT) AGM 2025 summary

Opening remarks and agenda

• The meeting was conducted virtually, with formalities and guidelines outlined, including copyright and forward-looking statement disclaimers.

• A quorum was confirmed with at least 88.3% of outstanding shares represented.

• The agenda included voting on five specific items and opportunities for shareholder questions.

Financial performance review

• Full-year 2024 fee and total revenue increased 7% and 9%, respectively, from 2023.

• Earnings per share rose to $8.21 from $5.58, with 13% EPS growth excluding notable items.

• Pre-tax margin expanded by over 100 basis points, and return on average tangible common equity reached 19%.

• Double-digit growth was seen in management fees, FX trading services, and front-office software/data revenues.

• $2.2 billion of capital was returned to shareholders, including a 10% dividend increase starting Q3.

Board and executive committee updates

• John F. Woods was appointed as the new CFO, joining in late August, succeeding interim CFO Mark Keating.

• Board and management introductions included new and current directors and executive team members.