Ryan Fuhrmann, CFA
June 1, 2007
Boston-based State Street (NYSE: STT) is one of the largest providers of financial services to money management institutions. Exposure to such a large market has allowed it to post a sturdy, long-term track record of sales and earnings gains. However,Â the recently announced acquisition of Investors Financial Services (Nasdaq: IFIN) scared investors into thinkingÂ growth prospects may not be so robust, causing State Street to pay a hefty premium for control of a hometown archrival.