Profile: State Street Corp (STT.N)
State Street Corporation (State Street), incorporated on October 16, 1969, is a financial holding company. Through its subsidiaries, including its principal banking subsidiary, State Street Bank and Trust Company (State Street Bank), the Company provides a range of financial products and services to institutional investors worldwide. The Company has two lines of business: Investment Servicing and Investment Management. At December 31, 2011, it had consolidated total deposits of $157.29 billion. 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 operates in 29 countries and in more than 100 geographic markets worldwide. In January 2014, its joint venture Boston Financial acquired assets and staff of The Colbent Corporation.
The Company’s trading services revenue includes revenue from foreign exchange trading, as well as brokerage and other trading services. It earns foreign exchange trading revenue by acting as a market maker. It offers a range of foreign exchange (FX), products, services and execution models which focus on clients’ global requirements for its research and the execution of trades in any time zone. Most of its FX products and execution models can be grouped into three broad categories: direct FX, indirect FX and electronic trading. The Company also offers a range of brokerage and other trading products tailored to meet the needs of the global pension community, including transition management, commission recapture and self-directed brokerage. Its securities finance business consists of two components: investment funds with a range of investment objectives, which are managed by State Street Global Advisors (SSgA) and engage in agency securities lending, which it refers to as the SSgA lending funds, and an agency lending program for third-party investment managers and asset owners, which it refers to as the agency lending funds. Its securities finance business provides liquidity to the financial markets, as well as a means for clients to earn incremental revenue on their securities portfolios. By acting as a lending agent and coordinating loans between lenders and borrowers, it lends securities and provide liquidity to clients worldwide. Processing fees and other revenue includes diverse types of fees and revenue, including fees from its structured products business, fees from software licensing and maintenance, equity income from its joint venture investments.
Investment Servicing provides products and services, including custody, product- and participant-level accounting; daily pricing and administration; master trust and master custody; record-keeping; foreign exchange, brokerage and other trading services; securities finance; deposit and short-term investment facilities; loan and lease financing; investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics. In Germany, Italy and France, it provides depot bank services for retail and institutional fund assets, as well as custody and other services to pension plans and other institutional clients. In the United Kingdom, it provides custody services for pension fund assets and administration services for mutual fund assets. The Company is an alternative asset servicing provider worldwide, servicing hedge, private equity and real estate funds. At December 31, 2011, it had approximately $816 billion of alternative assets under administration.
Investment Management services are provided through SSgA. SSgA provides an array of investment management, investment research and other related services, such as securities finance. SSgA offers strategies for managing financial assets, including passive and active, such as enhanced indexing and hedge fund strategies, using quantitative and fundamental methods for both United States and global equities and fixed-income securities. SSgA also offers exchange-traded funds (ETFs), such as the SPDR ETF brand. SSgA provides the array of investment management strategies, specialized investment management advisory services and other financial services for corporations, public funds, and other investors.
State Street Corp
One Lincoln Street
BOSTON MA 02111
Company Web Links
- Fitch: More of the Same in State Street's 2Q'14 Earnings
- MOVES- State Street Corp, J.C. Rathbone, Swiss Bankers Association
- MOVES-State Street names head of Asia Pacific sector solutions
- State Street settles shareholder, employee lawsuits for $70 million
- UPDATE 2-State Street settles shareholder, employee lawsuits for $70 mln