The Ticker
Servicing fees lift State Street earnings
1/18/13 12:07pm
State Street Corp.'s ($65.26 0.07%) fourth-quarter earnings rose 23% as higher servicing fees helped to offset lower trading-services and securities finance revenue.
State Street is one of the country's largest trust banks, acting as a custodian for investment firms' securities and handling other back-office duties. As with many financial firms, the company's top and bottom lines have been pressured by historically low interest rates and declining trading volumes
