State Street Reports Second-Quarter 2016 GAAP-Basis EPS of $1.47 on Lower Expenses Compared to the Second Quarter of 2015

In announcing today's financial results, Joseph L. Hooley, State Street's Chairman and Chief Executive Officer said, "We are pleased with our strong second-quarter results, which reflect strong fee revenue growth compared to the first quarter, driven by growth in our core asset servicing and asset management fees. Demand remains robust across our global client base as demonstrated by new servicing commitments of approximately $750 billion, including our appointment by Deka Bank and Allianz Global Investors to provide a range of investment services for $583 billion in assets. Our focus on expenses generated a decrease in expenses compared to the second quarter of 2015.