State Street Corp
Business Description
State Street Corporation is a leading financial services company headquartered in Boston, Massachusetts. It was founded in 1792, making it one of the oldest financial institutions in the United States. State Street provides a wide range of financial products and services to its clients, including asset management, custody, securities lending, fund accounting, and foreign exchange services.
As of 2021, State Street employs over 40,000 people in more than 100 locations worldwide. The company has a strong global presence, with operations in North America, Europe, the Middle East, Asia, and Australia.
State Street is known for its expertise in asset servicing, which includes custody, administration, and accounting for a wide range of institutional investors. The company is one of the largest custodian banks in the world, with over $42 trillion in assets under custody and administration. It also manages over $3 trillion in assets on behalf of its clients.
State Street also has a significant presence in the investment management sector. The company offers a range of investment products and services, including mutual funds, exchange-traded funds (ETFs), and separately managed accounts. State Street Global Advisors is the investment management arm of State Street and is one of the largest ETF providers in the world.
In addition to its asset servicing and investment management businesses, State Street is also involved in foreign exchange trading and securities lending. The company is a major player in the global foreign exchange market and provides trading services to institutional investors, corporations, and central banks. It also offers securities lending services, allowing clients to borrow securities in order to facilitate short selling or to cover other short-term needs.
Overall, State Street Corporation is a highly respected financial services company with a long history of providing quality products and services to its clients. Its strong global presence, expertise in asset servicing, and investment management capabilities make it a valuable partner to institutional investors worldwide.
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