Job cuts, capital ratios jam up State Street
Profits plunge even as assets under custody hit all-time high
State Street Corp., the third-largest custody bank, said net income fell 84 percent in the fourth quarter because of costs stemming from job cuts and the sale of securities to bolster capital.
Net income dropped to $81 million, or 16 cents a share, from $498 million, or $1, a year earlier, the Bo
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