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