BOSTON (AP) — Weaker international markets dragged State Street Corp.'s second-quarter net income down by 4 percent.
The bank, which provides services to pension funds and other institutional investors, also said Tuesday that it's ramping up its regulatory compliance and risk management services for hedge funds with a $550 million deal for Goldman Sachs Group Inc.'s hedge fund administrative services business.
For the April-June quarter, State Street earned $480 million, or 98 cents per share, compared with $502 million, or $1 per share, a year ago.
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