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  "documentTitle": "State Street Corporation (STT)",
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  "authorName": "Trian Partners",
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  "notes": "Slide 5 of an activist deck, likely from Trian Partners.",
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      "text": "Source: SEC Filings, State Street investor presentations, State Street investor conference calls. (1) Fiscal Year End (“FYE”) December 31, 2010. (2) Fiscal Year End December 31, 2010.",
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      "text": "#1 global institutional manager and #2 ETF provider; $2tn in AUM; Scale players lead the market.",
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      "text": "#1 in Investment Management Operations Outsourcing, Mutual Fund Accounting and Alternative assets under custody and administration (“AUCA”); $22tn in AUCA; #2 in total AUCA and #1 in revenue; Attractive secular tailwinds; Scalable global platform; Higher revenue per AUCA vs BNY Mellon.",
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      "text": "Investment Management (State Street Global Advisors, or “SSgA”) division is extremely well positioned in the attractive passive management space ($1.1bn revenue, $292mm EBT)",
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      "text": "Trian Believes in the Potential of the State Street Platform",
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