James Mitchell's questions to State Street Corp (STT) leadership • Q1 2025
Question
James Mitchell of Seaport Global asked about the degree of flexibility in State Street's expense base if revenues weaken and what trends they observed in deposit flows and trading activity during the volatile start to April.
Answer
CEO Ronald O'Hanley stated that due to multi-year transformation efforts, the company has flexibility to pull forward cost-saving actions and reprioritize investments without harming long-term strategy. Interim CFO Mark Keating added that in early April, they observed typical trends for uncertain periods, including an increase in deposit levels and higher trading volatility, which the firm is positioned to capture.