State Street Reports Fourth-Quarter 2017 GAAP-Basis EPS of $0.89, ROE of 6.9% and Revenue of $2.8 Billion; Includes One-Time Net Cost of $270 Million or -$0.72 Per Share Related to Tax Reform

In announcing today’s financial results, Joseph L. Hooley, State Street’s Chairman and Chief Executive Officer, said, "Our full-year 2017 results reflect strength across our asset servicing and asset management businesses, with record levels of assets under custody and administration and assets under management, and importantly, achievement of our 2017 financial objectives. We also made significant progress with our Beacon program, achieving benefits for our clients while also realizing $150 million in savings. I am pleased that we have already exceeded our Beacon target to achieve an operating-basis pre-tax margin of 31% by 2018, and generated 210 basis points of positive fee operating leverage in 2017."