State Street Corp at RBC Capital Markets Global Financial Institutions Conference (Virtual) Transcript
Good afternoon, everybody. This is Gerard Cassidy with RBC Capital Markets. I want to welcome everybody to the State Street presentation to our 25th Annual Financial Institutions Conference. And as many of you know, State Street is about the 10th largest bank in the United States. It has almost -- or close to $40 trillion of assets under custody, $3.5 trillion of assets under management. It is truly one of the premier custody banks here in the United States.
As of Friday, the stock is trading at about $80 -- just under $80 a share. And it's trading about 1.2x its stated book value. The company is also very well capitalized. It has a strong CET1 ratio of just over 12% and has recently announced also a $475 million common stock repurchase program for the first quarter of 2021.
We're very pleased and I'm very privileged to have with us Eric Aboaf. Eric, as many of you know, is the Chief Financial Officer of State Street Corporation. He joined them in early 2017.
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