State Street has recently been making headlines due to its designation as a Global Systemically Important Financial Institution (GSIFI) and its involvement in the Brandes Investment Partners LP portfolio. The asset manager has also recently seen its stock (NYSE: STT) decline 17% YTD, as compared to the 19% decline in the S&P500 over the same period. Additionally, the crypto infrastructure firm Securrency has appointed former State Street head of digital finance Nadine Chakar as its CEO.
State Street Becomes Global Systemically Important Financial Institution
In December 2020, State Street became the first Global Systemically Important Financial Institution (GSIFI) to earn this designation. The designation was created to identify institutions whose failure or instability could cause a disruption to the global financial system. With this designation, State Street is now subject to additional global regulations and oversight.
State Street in Brandes Investment Partners LP Portfolio
State Street accounts for about 1.4% of Brandes Investment Partners LP’s Investment portfolio, making the stock its 24th largest position. In the 1st quarter of 2021, IL boosted its position in State Street by 14.3%. Blair William & Co. IL now owns 17,756 shares of the asset manager's stock.
State Street stock: YTD Performance
State Street's stock (NYSE: STT) has lost 17% YTD, as compared to the 19% decline in the S&P500 over the same period. The asset manager has been affected by the pandemic-induced market volatility, which has weighed heavily on the stock.
Securrency Appoints Nadine Chakar as CEO
Crypto infrastructure firm Securrency named Nadine Chakar, previously the head of State Street Digital, as its CEO, effective Jan. 9, the company announced in a press release. Chakar is expected to lead Securrency’s efforts to bring its blockchain-based products to the global securities market.
The 'Big Three' of BlackRock, Vanguard and State Street Global Advisors
The 'Big Three' of BlackRock, Vanguard and State Street Global Advisors (SSGA) have just as much incentive as active managers to regularly review their portfolios and ensure they consist of the best companies. This is due to the fact that the three firms manage a significant portion of the global market capitalization and are therefore exposed to a large number of risks.
Salt Lake City Police Investigates Auto-Pedestrian Incident Near 700 S. State Street
Salt Lake City police investigators are on the scene of an auto-pedestrian incident Sunday night near 700 S. State St. The incident occurred when a car struck a pedestrian, who is reported to be in critical condition.
