Legal action against State Street
What State Street says…
The bank was at the forefront of custody’s metamorphosis from sleepy backwater to active asset management industry, but the past couple of years have exposed sloppy investment practices that have cost both money and reputation. The search is on for new fee revenue to support the colossus the bank has become. Louise Bowman reports.
IF ONE LESSON should be learned from the financial crisis of recent years it is this: understand counterparty risk.
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