State Street Corp.
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| State Street Corp | |
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| Type | Public (NYSE: STT) |
|---|---|
| Founded | Boston, Massachusetts in 1792 |
| Headquarters | Boston, Massachusetts |
| Key people | Ronald Logue, CEO & Chairman Edward Resch, CFO & Exec. VP |
| Industry | Investment servicing, investment management, investment research & trading |
| Products | Financial Services |
| Revenue |  $10.9 trillion assets under custody, $1.5 trillion assets under management USD (2005) |
| Employees | 20,375 |
| Website | www.statestreet.com |
State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, is a financial services company based in Boston, Massachusetts, trades on the New York Stock Exchange under the ticker symbol STT.
State Street provides a full range of products and services for portfolios of investment assets. State Street focuses its services on institutional investors and investment management. Its customers include mutual funds and other collective investment funds, corporate and public pension funds, corporations, unions and not-for-profit organizations.
State Street employs over 20,000 people in more than 25 countries, more than one third of whom work in IT. State Street's Global Link platform is used by financial institutions all over the world to transfer funds and track capital flows.
State Street Corporation has been in business since 1792 and is one of the oldest companies in the United States.
State Street Bank & Trust Co. v. Signature Financial Group, Inc. is the landmark case in which the Washington, DC Court of Appeals ruled (July 23, 1998) that a computer algorithm can be patented to the extent that it produces "a useful, concrete and tangible result".
On February 5, 2007, State Street announced the $4.5 Billion acquisition of Investors Financial Services Corporation. The deal is expected to close in the third quarter of 2007 and will result in the 2nd largest custodian bank in the world, providing custody services for $14.1 trillion of assets. [1]
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[edit] Industry Leadership
- No. 1 provider of U.S. mutual fund custody and accounting services
- No. 1 servicer of U.S. pension plans
- No. 1 investment manager of institutional assets worldwide
- No. 1 investment manager of U.S. institutional tax-exempt assets
- No. 4 assets under management worldwide
- Leading custodian worldwide
- Leading offshore fund service provider worldwide
- Leading provider of securities finance services worldwide
- 29 consecutive years of operating-basis EPS growth
- IOperating-basis earnings per share growth of 14% compounded annually over the 10 years 1996-2006
- Assets under custody of $11.9 trillion as of December 31, 2006
- Assets under management of $1.7 trillion as of December 31, 2006
[edit] Office locations
State Street Corporation has offices around the world, including, but not limited to, space in the following buildings:
- State Street Financial Center, Boston, Massachusetts
- One Federal Street, Boston, Massachusetts
- Lafayette Corporate Center, Boston, Massachusetts
- Two World Financial Center, New York, New York
- International Finance Centre, Hong Kong
- One Canada Square, London, United Kingdom
- State Street Financial Centre, Toronto, Canada
- 801 Pennsylvania, Kansas City, Missouri
- 200 Newport Ave, Quincy, Massachusetts
- 105 Rosemont Rd, Westwood, Massachusetts
- 22 Saint Cyprians Place, Roxbury Crossing
- Guild House, Guild Street, IFSC, Dublin 1, Ireland
- Shiroyama Trust Tower (formerly called Shiroyama Hills), Tokyo, Japan
(In May/June 2007, the Tokyo office will move to the new Tokyo Midtown Tower in Roppongi)
[edit] Holdings
- State Street Bank and Trust Company
- International Fund Services
- State Street Global Advisors
- Boston Financial Data Services
