| State Street's commitment to our clients is evident not only in the quality of the services we offer, but also in our ongoing investment in the people and infrastructure of our international markets. With a local presence dating back 35 years, State Street remains a leader in providing a full range of financial services, both throughout Germany and around the world. |
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State Street successfully completes its acquisition of substantial parts of Deutsche Bank's Global Securities Services (GSS) businesses and gains important strategic benefits, including a broadened global client base, leadership in the high-growth European market and considerable economies of scale. And, over 3,000 Deutsche Bank staff members around the world join as State Street employees.
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State Street wins significant new business, across product lines and around the world, from leading institutions such as Credit Suisse, Nuveen, and UNICO Asset Management. Additionally, State Street extends its capabilities in servicing alternative investments such as hedge funds with the acquisition of International Fund Services, and enters into a definitive agreement to acquire Deutsche Bank's Global Securities Services business. With the release of its 2002 financial results, State Street announces 25 consecutive years of operating EPS growth.
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State Street Bank GmbH Munich continues to build on its track record of trust and stability in large part because of its over 200 employees who specialise in providing investors a host of depotbank, custody, capital markets and structured product services.
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State Street celebrates the 30th anniversary of its opening in Germany during an investor e-finance conference focusing on the challenges and opportunities facing the global financial marketplace. State Street speakers include: Ron Logue, President and Chief Operating Officer; and Avinash Persaud, Managing Director and Global Head of Research.
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In July, State Street Global Advisors GmbH (Advisory Company) establishes operations in Munich. Committed primarily to serving the German and Austrian markets, SSgA Munich manages a broad range of products for its institutional clients. SSgA also operates in Germany as State Street Global Investment GmbH, a KAG that is regulated by the BAFin.
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State Street opens the doors to its new headquarters in Munich, located at Brenner Strasse 59. During a celebration held for local governmental and business officials, State Street President, David Spina, who will be elected the company's CEO and Chairman in 2000, offers a warm welcome to Bavarian Finance Minister Erwin Huber.
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State Street Bank GmbH Munich begins offering depositary bank, treasury, performance and analytics, and investment management services.
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State Street attains a full banking license for Germany; the Munich office can now fully support German asset managers and the special fund investments of German institutional investors.
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State Street's Global Custody Operations Centre opens in Munich.
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First international financial institution chooses State Street Munich as custodian for its foreign assets in Canada and Japan.
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State Street expands its custody service to include financial institutions from eight European countries.
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The first foreign financial institution selects State Street Munich as custodian for their U.S. custody assets.
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State Street opens its first international office in Munich, Germany. The office is established to meet primarily the needs of European investors and European-based affiliates of U.S. companies.
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