State Street Corp.
 |
|
| Public | |
| Traded as | : STT S&P 500 Component |
| Industry | Financial services |
| Founded | 1792 |
| Headquarters |
State Street Financial Center Boston, Massachusetts, United States |
|
Key people
|
Jay Hooley (Chairman and CEO) Ron O'Hanley (Vice Chairman) Mike Rogers (President and COO) |
| Products | Investment management, equities trading, foreign exchange trading, custodian, securities lending |
| Revenue |
 US$10.21 billion (2016) |
 US$2.14 billion (2016) |
|
| AUM |
US$2.47 trillion (2016) |
| Total assets |
US$242.7 billion (2016) |
| Total equity |
US$21.2 billion (2016) |
|
Number of employees
|
33,783 (2016) |
| Website | www |
State Street Corporation, known as State Street, is an American worldwide financial services company. State Street was founded in 1792 and is the second oldest financial institution in the United States of America. It is one of the largest asset management companies in the world with $2.45 trillion (USD) under management and $28 trillion (USD) under custody and administration, which represents 11% of the world's total financial assets. State Street is a Fortune 500 company with headquarters at One Lincoln Street in Boston and has offices in 30 countries around the world. At the 2011 G20 Summit in Cannes, France heads of governments/heads of states gathered to discuss the stability of worldwide financial markets. At the G20, State Street was adjudged one of the 29 top systemic financial institutions in the world too crucial to fail, which were deemed critically important to the health of the Global Economy.
State Street is organized into three main divisions. The Global Services business is a custodian bank with $28 trillion (USD) of assets under custody and administration. The Global Advisors business provides investment management services and has $2.45 trillion (USD) of assets under management. The Global Markets business offers investment research and trading services to institutional investors.
State Street’s past can be dated back to the founding years of Boston’s banking industry. In 1792 the Union Bank became the third bank to be chartered in Boston and was located at the corner of State and Exchange Streets. State Street was known as the “Great Street to the Sea” as Boston became a flourishing maritime capital. The clipper in State Street’s logo today reflects this period.
In 1865 the Union Bank received a national charter and became the National Union Bank of Boston. State Street Deposit & Trust Co opened alongside National Union in 1891. It became the custodian of the first US mutual fund in 1924, the Massachusetts Investors Trust. State Street and National Union merged in 1925.
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Wikipedia