State Street has reported “record” fee and total revenue growth in the fourth quarter, alongside continued expansion of its private markets platform.
The bank and investment manager said total revenue rose to $3.7bn (£2.8bn) in the fourth quarter, representing a seven per cent increase year on year. Total fee revenue reached $2.9bn in the same period.
“2025 marked another year of strong performance and strategic progress for State Street,” said Ron O’Hanley, chairman and chief executive at State Street. “In the fourth quarter, we achieved record fee and total revenue, reflecting consistent year-over-year growth, with continued strong performance across investment services, investment management, and our markets franchise.”
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State Street reported strong growth in its investment management business, with assets under management rising 20 per cent to $5.7tn at quarter-end, driven primarily by higher market levels and net inflows. Investment servicing assets under custody and administration increased 16 per cent to $53.8tn over the same period.
As part of its new business and growth strategy, the firm secured $87m in new servicing fee revenue during the quarter, largely driven by back-office services, with a significant contribution from private markets, the results said.
State Street also won mandates to service $484bn in new client assets, with the majority coming from insurance companies and asset managers, according to its fourth-quarter results.
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The results also highlighted the expansion of State Street’s wealth services through its investment in and partnership with Apex Fintech Solutions.
In addition, the firm pointed to strategic investments and partnerships with Coller Capital, which will enable private markets secondaries exposure for clients, and with Groww AMC, the asset management arm of an India-based digital investment platform.
O’Hanley added: “Building on the strong foundation of recent years, we moved forward with a clear focus on growth by delivering innovative products, executing targeted strategic investments, and expanding wealth services through our partnership with Apex Fintech Solutions.”
