Alexander Blostein's questions to State Street Corp (STT) leadership • Q1 2025
Question
Alexander Blostein from Goldman Sachs inquired about the trends in noninterest-bearing versus interest-bearing deposits and asked what business strengths are offsetting market headwinds to support the firm's full-year fee guidance.
Answer
Interim CFO Mark Keating noted that while noninterest-bearing (NIB) deposits declined as expected from a seasonal Q4 high, overall client deposits are trending toward the high end of their $230-$240 billion guided range. Both Keating and CEO Ronald O'Hanley explained the fee guide is supported by a record high $356 million in to-be-installed revenue, accelerated installation timelines, and continued momentum from investments in sales effectiveness and platform capabilities.