Global Downturn Affects 3rd Qtr.; September Impact Yet to Be Seen

State Street Corp.’s third quarter net income was $170 million, up from $150 million last year, translating to earnings per share of $0.51, up 13 percent from $0.45 per share in the third quarter of 2000.

Servicing fees rose 11 percent in the third quarter to $398 million. Servicing fees include accounting, administration, custody, daily pricing, securities lending, performance and analytics, compliance monitoring and operations outsourcing for investment managers. New business from