SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: January 31, 1995
STATE STREET BOSTON CORPORATION
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(Exact name of Registrant as specified in its charter)
Massachusetts
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(State or other jurisdiction of incorporation)
0-5108 04-2456637
_____________________ _________________________________
Commission File No. (IRS Employer Identification No.)
225 Franklin Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
(617) 786-3000
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Registrant's telephone number, including area code
Item 5. OTHER EVENTS
On January 31, 1995, pursuant to the Acquisition
Agreement dated as of September 27, 1994 (the
"Agreement"), among the Registrant, DST Systems, Inc.
and Kemper Financial Services, Inc., Registrant
acquired Investors Fiduciary Trust Company ("IFTC"),
based in Kansas City, Missouri. IFTC was acquired in
exchange for 5,972,222 shares of Registrant's Common
Stock. Registrant is accounting for the transaction as
a pooling of interests.
A copy of Registrant's press release is filed as an
exhibit hereto. The Execution of the Agreement was
reported by Registrant on September 28, 1994.
Item 7. Exhibits
1. Form of press release dated January 31, 1995.
2. Acquisition Agreement (incorporated by reference to
Registrant's From 10-Q for the quarter ended
September 30, 1994).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Dated: February 3, 1995
STATE STREET BOSTON CORPORATION
Robert J. Malley
By:____________________________
Robert J. Malley
Senior Vice President and
General Counsel
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EXHIBIT LIST
Form of press release dated January 31, 1995.
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[STATE STREET BOSTON CORPORATION LETTERHEAD]
NEWS RELEASE
For Release: Immediately
Contact: George A. Russell
617/654-3866
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Investors and Analysts
Susanne G. Clark
617/654-3477
STATE STREET BOSTON ACQUIRES
INVESTORS FIDUCIARY TRUST COMPANY
Boston, MA...January 31, 1995
State Street Boston Corporation announced today that it
completed its previously announced acquisition of Investors
Fiduciary Trust Company ("IFTC"), a servicer of mutual funds with
approximately $130 billion of assets under custody based in
Kansas City, Missouri. IFTC was purchased from DST Systems, Inc.
and Kemper Financial Services, Inc.
The acquisition strengthens State Street's market leadership
and increases total assets under custody to $1.8 trillion. IFTC
brings additional customers and different systems alternatives to
service the mutual funds market. State Street will bring its
broad range of global products to these customers.
"We plan to operate IFTC as a separate entity providing the
high quality of service for which it is recognized, in the same
manner in which it has in the past. In this way we will provide
the marketplace with service alternatives suited to a customer's
particular needs. We are particularly pleased that Thomas J.
McCrossan will be appointed President of IFTC," said Ronald E.
Logue, Executive Vice President responsible for Mutual Fund
Services at State Street. He continued, "Tom brings a wealth of
global custody experience to the marketplace at a time when the
globalization of mutual fund portfolios continues at a rapid
pace." Mr. McCrossan's prior experience included operations
management at Citibank and most recently, management of Chase
Manhattan Bank's Global Securities Services Unit at Bournemouth,
England. He will report to Mr. Logue.
IFTC was acquired for 5,972,222 shares of State Street's
common stock. State Street is accounting for the transaction as
a pooling of interests. One time transaction costs are estimated
to be $.03 per share and will be recorded in the first quarter.
No earnings dilution is expected for the full-year 1995.
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State Street Boston Corp.
Investors Fiduciary Trust Company
January 31, 1995
Russell - 617/654-3866
Page 2
With $1.8 trillion in assets under custody and $160 billion
in assets under management, State Street is a leading servicer
and manager of financial assets worldwide. Services are provided
from offices in the United States, Canada, Grand Cayman,
Netherlands Antilles, United Kingdom, France, Belgium,
Luxembourg, Denmark, Germany, United Arab Emirates, Hong Kong,
Taiwan, Japan, Australia, and New Zealand.
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