US - State Street plans to cut 1,400 employees, or 5% of its total workforce, with staff in North America taking the brunt of the cull.
ITALY - State Street Corp. has completed its €1.28bn (US$1.6bn) cash purchase of Intesa Sanpaolo's Securities Services business (ISPSS), including the firm's custody and fund administration units.
ITALY - Italy's largest pension fund Fondo Cometa has appointed BNP Paribas as its new custodian for its €5bn (US$6.8bn) portfolio.