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State Street to Acquire Mizuho Financial Group's Global Custody Business

1. State Street to acquire Mizuho's global custody operations outside Japan. 2. This expansion enhances STT's global custody capabilities and client base.

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FAQ

Why Bullish?

The acquisition strengthens STT's market position in global custody. Similar past acquisitions, like BNY Mellon and Pershing, led to increased market share and stock performance.

How important is it?

The acquisition is significant for STT's growth strategy, potentially increasing revenues. Enhancing custody operations is a strategic move amid rising global investments.

Why Long Term?

This acquisition is likely to take time to fully integrate and realize benefits. Historically, successful integrations have led to sustained growth over several years.

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TOKYO--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) and Mizuho Financial Group, Inc. (President & Group CEO: Masahiro Kihara) today announced they have entered into an agreement for State Street to acquire Mizuho's global custody and related businesses outside of Japan. These businesses support the overseas investments of Mizuho's Japanese clients. Mizuho currently operates its global custody and related business outside of Japan through its local subsidiaries Mizuho Trust & Ba.

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