other material
confidence high
sentiment positive
materiality 0.60
State Street SSGA reports 2024 AUM $4.7T, revenue $2.3B, pre-tax margin 29.4% at RBC conference
STATE STREET CORP
- SSGA AUM of $4.7T as of Dec 2024, up 16% CAGR from 2022; revenue $2.3B (+9% YoY).
- Pre-tax margin expanded to 29.4% in 2024 from 25.9% in 2023, up 350 bps.
- Net new assets of $144B in 2024 vs $117B in 2023; organic growth improved to +3.5%.
- Key growth drivers: ETFs AUM $1.6T (+24% CAGR), wealth channel $1.2T (+23% CAGR).
- Yie-Hsin Hung (CEO SSGA) and interim CFO Mark Keating presented the strategic update.