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| Type | Public (NYSE: STT) |
|---|---|
| Founded | 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 | US$ 11.818 billion (2008)[1] |
| Net income | US$ 1.26 billion (2008) |
| Total assets | US$ 1.7 trillion (Sept. 2009) |
| Employees | 28,700 (2008)[1] |
| Website | www.statestreet.com |
State Street Corporation, or just simply State Street is a U.S. based financial services holding company. State Street was founded in 1792, and is headquartered in the Financial District area of Boston at One Lincoln Street.[2] State Street has offices in major financial centers such as London, Edinburgh, Boston,New York City, Chicago, Los Angeles, Frankfurt, Zürich, Munich, Cologne, Vienna, Grand Cayman, Paris, Amsterdam, Cape Town, Hong Kong, Beijing, Singapore, Sydney, Dubai, Dublin, Luxembourg, Krakow, Milan, Montreal, Seoul, Tokyo, Taipei, and Toronto.
State Street focuses its services on institutional investors and investment management. Its customers include mutual fund, collective investment funds, corporate and public pension funds, companies and non-profit organizations.
The company employs 28,700 staff around the world.[3] The bank claims assets under custody of US$17.9 trillion and assets under management of US$1.7 trillion as of September 30, 2009.[4]
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History
In 2003, State Street purchased Deutsche Bank's securities services division for $1.5 billion. This deal made State Street the largest security services firm, surpassing JP Morgan Chase and The Bank of New York.[5]
On February 5, 2007, State Street announced the US$4.5 billion acquisition of Investors Bank & Trust. The deal closed on July 2, 2007 and created the world's second largest custodian with approximately $US14.1 trillion of assets under custody.[6]
Holdings
- State Street Bank and Trust Company
- State Street Bank GmbH
- International Fund Services
- State Street Global Markets
- State Street Associates
- State Street Global Advisors
- Boston Financial Data Services
- International Financial Data Services (IFDS) (joint venture with DST Systems)
- Investors Bank & Trust
The State Street Pavilion Club
In 2006, State Street bought the naming rights to various Boston Red Sox events, including the 3rd level behind homeplate called The State Street Pavilion. [7] The Pavilion is a private club style eating area that has its own separate entrance from Yawkey Way.[8]
See also
State Street Bank v. Signature Financial Group is the landmark case in which the Court of Appeals for the Federal Circuit ruled (July 23, 1998) that a computer algorithm can be patented to the extent that it produces "a useful, concrete and tangible result".
References
- ^ a b "Company Profile for State Street Corp (STT)". http://zenobank.com/index.php?symbol=STT&page=quotesearch. Retrieved 2008-09-30.
- ^ "Contact Us." State Street Corporation. Retrieved on November 11, 2009.
- ^ Company Overview. Retrieved on June 30, 2007.
- ^ Company Overview. Retrieved on February 5, 2009.
- ^ [1]
- ^ State Street Corporation Investor Relations - Investor News Release
- ^ November 4, 2006 Press Release. Retrieved on January 25, 2008.
- ^ State Street Pavilion Club Retrieved on January 25, 2008.
External links
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Wikimedia Commons has media related to: State Street Bank |
- State Street home page
- IFS home page
- Yahoo! - State Street Corporation Company Profile
- Boston Financial Data Services
- State Street Global Advisors home page
- Google Finance: State Street Corporation Profile
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