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    Glenn Schorr

    Senior Managing Director and Senior Research Analyst at Evercore Inc.

    Glenn Schorr is a Senior Managing Director and Senior Research Analyst at Evercore ISI, specializing in coverage of brokers, universal banks, asset managers, and trust banks. He covers prominent firms including Goldman Sachs, KKR, Carlyle Group, Blackstone, Apollo Global Management, JPMorgan Chase, Morgan Stanley, State Street, and Northern Trust, and has achieved a 64% success rate on his stock ratings with an average annual return of 10.3%, peaking at a 146% return on a single KKR call. Schorr has analyzed the financial sector since 2000, previously serving as Senior Managing Director and lead financials analyst at Nomura Securities, with earlier positions at UBS, Deutsche Bank, and M.D. Sass Investors, and joined Evercore ISI in the early 2020s. He holds a B.S. in finance from Binghamton University, is a Chartered Financial Analyst (CFA), and is regularly recognized by Institutional Investor’s All-America Research Team for his sector coverage.

    Glenn Schorr's questions to STATE STREET (STT) leadership

    Glenn Schorr's questions to STATE STREET (STT) leadership • Q1 2025

    Question

    Glenn Schorr from Evercore inquired if the current sales momentum allows State Street to gain market share, how the firm expands relationships after securing back-office deals, and about the reinvestment strategy for incoming deposits.

    Answer

    CEO Ronald O'Hanley explained that they believe they are gaining share and that back-office wins are often bundled with FX and securities finance services. He noted that about half of new business is associated with Alpha, and they focus on front-loading back-office installations to speed up revenue recognition. Interim CFO Mark Keating added that the reinvestment strategy for new deposits will remain 'super short' in the current environment, which could pressure the net interest margin.

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