Jim Mitchell's questions to STATE STREET (STT) leadership • Q1 2025
Question
Inquired about the degree of flexibility in the expense base if revenues weaken and how the market volatility in April is affecting deposit flows and trading activity.
Answer
Management stated they have significant flexibility on expenses due to ongoing multi-year transformation efforts, allowing them to pull forward productivity initiatives without harming long-term strategy. In April, they are seeing what is typical for uncertain times: elevated deposit levels and increased trading volatility, which their trading organization is able to capture.