State Street’s Total Expenses Rise
In 1Q18, State Street’s (STT) total expenses rose 5.9% QoQ (quarter-over-quarter) and 8.1% YoY (year-over-year) to $2.3 billion, while its compensation and employee benefit expenses rose 17.1% QoQ and 7.1% YoY to $1.2 billion. Its transaction processing service expenses rose 22.8% YoY to $242 million from $197 million, and 10.5% QoQ, due to upward market momentum and higher client volumes.