TITLE

State St. CEO: No Need for Fresh Capital

AUTHOR(S)
Ackermann, Matt
PUB. DATE
January 2009
SOURCE
American Banker;1/21/2009, Vol. 174 Issue 13, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article discusses the financial challenges faced by the investment bank State Street Corp. after realizing a series of mark-to-market losses on investments in the fourth quarter of 2008. Chief executive officer Ronald F. Logue acknowledged the company's loss of value, but emphasized his reluctance to bring in new investors of take on new liabilities. The opportunities that Logue believes exist in this recessionary market for business process outsourcing are noted.
ACCESSION #
36519440

Tags: STATE Street Corp.;  PROFIT & loss;  QUARTERLY reports;  LOGUE, Ronald E.;  BANK stocks

 

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