Vivek Juneja's questions to State Street Corp (STT) leadership • Q1 2025
Question
Vivek Juneja of JPMorgan asked for the geographic mix (U.S. vs. non-U.S.) of servicing revenues, new business wins, and asset management fees, and questioned if geopolitical shifts could alter this mix.
Answer
Interim CFO Mark Keating stated that servicing revenue is roughly 45% non-U.S., while the asset management business is about one-third non-U.S. CEO Ronald O'Hanley added that historically, a slightly higher percentage of new business wins have been non-U.S. While acknowledging geopolitical risks, O'Hanley expressed confidence in their position due to their deep, local presence in many international markets, which helps mitigate potential shifts in client preference.