Achieved record quarterly fee revenue and total revenue driven by broad-based growth across investment management, servicing, and markets.
Realized ninth consecutive quarter of positive operating leverage through disciplined business investments and a conservatively positioned balance sheet.
Capitalized on heightened market volatility and dynamic environments to drive significant year-over-year growth in FX trading and Net Interest Income.
Accelerated the ‘One State Street’ strategy to link investment services and management platforms, enhancing client-led solutions and platform value.
Pivoted toward faster-growing segments including digital assets, private markets, and wealth services to capture long-term industry shifts.
Deployed the AgenTx platform and AI foundry to scale AI-enabled capabilities across high-leverage operational and technology areas.
Increased full-year fee revenue growth guidance to 7% to 9% based on strong Q1 momentum and continued organic growth.
Raised Net Interest Income growth outlook to 8% to 10% reflecting anticipated net interest margin expansion and improved funding mix.
Expects expenses to increase 5% to 6% for the full year, primarily driven by higher revenue-related costs and strategic investments.
Assumes global equity markets remain flat point-to-point from 2025 while monitoring potential variability in the operating environment.
Anticipates tangible business impacts from AI use cases to begin emerging in the second half of 2026 and accelerate thereafter.
Recognized $130 million in notable items related to repositioning charges and the rescoping of a specific middle office client contract.
Noted a 100 basis point decrease in CET1 ratio to 10.6% due to RWA normalization in Markets and month-end market appreciation.
Identified rising concerns regarding credit quality in specific financial system segments and geopolitical tensions as ongoing sentiment factors.
Crystallized a charge-off on a COVID-era commercial loan that had been previously reserved, with management stating it was an idiosyncratic exit.
Management expects NIM to range between 110 and 115 basis points for 2026, driven by a shift from wholesale funding to client deposits.
Deposits are projected to remain in the $250 billion to $260 billion range, with noninterest-bearing levels likely exceeding the 10% target.
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