Profile: State Street Corp (STT.N)
23 Apr 2019
State Street Corporation, incorporated on October 16, 1969, is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world. Its clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers.
State Street Bank operates as a specialized bank (referred to as a trust or custody bank) that services and manages assets on behalf of its institutional clients. The Company, through its subsidiaries, State Street Global Advisors Funds Management, Inc. (SSGA FM) and State Street Global Advisors Limited (SSGA Ltd.), offers a range of investment management solutions, including passive equity, active and passive fixed-income, cash management, multi-asset class solutions and real estate. Its products and services include custody, accounting, administration, daily pricing, foreign exchange (FX) services, cash management, financial asset management, securities finance and investment advisory services. Its FX products and execution services can be grouped into various categories, such as direct sales and trading, indirect FX trading and electronic FX services. The Company offers a range of brokerage and other trading products tailored to meet the needs of the global pension community, including transition management and commission recapture.
The Investment servicing line of business performs functions, such as providing institutional investors with clearing, settlement and payment services. Its financial services and products allow institutional investor clients to execute financial transactions on a daily basis in markets across the globe. The investment servicing products and services include custody; product- and participant-level accounting; daily pricing and administration; master trust and master custody; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance; custody product, which integrates principal securities lending and custody; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics to support institutional investors.
The Company provides mutual fund custody and accounting services in the United States. It offers clients a range of integrated products and services, including accounting, daily pricing and fund administration. It services the United States tax-exempt assets for corporate and public pension funds, and provides trust and valuation services for daily-priced portfolios. It is a service provider outside of the United States as well. In Germany, Italy, France and Luxembourg, the Company provides depotbank services (a fund oversight role created by regulation) for retail and institutional fund assets, as well as custody and other services to pension plans and other institutional clients. In the United Kingdom, the Company provides custody services for pension fund assets and administration services for mutual fund assets. As of December 31, 2016, the Company serviced approximately $1.75 trillion of offshore assets in funds located primarily in Luxembourg, Ireland and the Cayman Islands. As of December 31, 2016, the Company serviced $1.49 trillion of assets under custody and administration in the Asia/Pacific region, and in Japan, it serviced approximately 93% of the trust assets serviced by non-domestic trust banks. The Company is an alternative asset servicing provider around the world, servicing hedge, private equity and real estate funds. As of December 31, 2016, the Company serviced approximately $1.33 trillion of Assets under custody and administration (AUCA) in such funds.
The Company operates investment management line of business through State Street Global Advisors (SSGA). SSGA provides a range of investment management, investment research and investment advisory services to corporations, public funds and other investors. SSGA offers passive and active asset management strategies across equity, fixed-income, alternative, multi-asset solutions and cash asset classes. Products are distributed directly and through intermediaries using a range of investment vehicles, including exchange-traded funds (ETFs), such as the SPDR ETF brand.
State Street Corp
1 Lincoln St
BOSTON MA 02111-2901
Company Web Links
- U.S. regulators propose rule to ease leverage rule for custody banks
- European banks Credit Agricole and Santander team up in asset services
- UPDATE 3-European banks Credit Agricole and Santander team up in asset services
- MOVES-Stone Harbor, Equifax, State Street
- MOVES-State Street hires former Citi Asia head as new CEO of int'l business