LONDON–(BUSINESS WIRE)–Oct. 1, 2003–State Street Corporation (NYSE: STT), the world’s leading specialist in meeting the needs of institutional investors, announced today that it has been rated the”Top Lender (Rated by Borrowers)” in the 2003 Global Equity Finance Survey by International Securities Finance (ISF) magazine. This is the third consecutive year that State Street has achieved thetop lender ranking in ISF’s annual survey. In addition to having been named top lender overall, State Street was ranked first in a number of key individual competencies as well as in all threeregional categories.
As reported by ISF, “… it seems that State Street’s pre-eminence in the securities lending market is undiminished. Understanding what the borrowers want is clearly something that State Street has put a lot of time and effort in to … at the end of the day, size matters, and that’s where State Street holds the trump card.”
Commenting on the award, Ed O’Brien, global head of securities finance at State Street said, “We are proud that we continue to be recognized by ISF and by the world’s major securities borrowers. When borrowers need both a broad and diverse supply of assets, as well as the highest degree of stability and commitment, they have signified by their votes that State Street is the clear front-runner. We have made significant resource commitments in all of our sites worldwide so that we can work with the world’s borrowers where they live and service their respective clients.”
State Street’s securities lending program is available to all institutional investors worldwide, whether their assets are held in custody at State Street or elsewhere. The Company lends securities in 35 markets via trading desks throughout North America, Europe, and the Asia/Pacific region – providing clients with around-the-clock opportunities. State Street’s securities lending program also provides both lenders and borrowers with the online information and tools that enable them to analyze and monitor their securities lending activity.
ISF is a quarterly magazine providing independent coverage of the securities financing and repo, prime brokerage and hedge fund industries. It is the only magazine dedicated to reporting all regulatory, tax legal and market developments in this business. ISF also operates a daily updated website, www.isfmagazine.com.
State Street Corporation (NYSE: STT) is the world’s leading specialist in providing sophisticated global investors with investment servicing, investment management, research and analytics and trading services. With $8.5 trillion in assets under custody and $901 billion in assets under management, State Street operates in 23 countries and over 100 markets worldwide.
