State Street
Custodian Banking & Investment ServicingGlobal financial services pioneer providing institutional custody, investment accounting, securities lending, and asset management.
Official State Street Careers Website
Quick Facts
- Headquarters
- Boston, Massachusetts, USA
- Founded
- 1792
- Employees
- 46,000+
- Valuation
- NYSE Listed (STT) — ~$30B Cap
About State Street
State Street Corporation is an American financial services and bank holding company headquartered in Boston, Massachusetts. Tracing its lineage back to the founding of Union Bank in 1792 (the third bank chartered in Boston), State Street is the second-oldest continuously operating bank in the United States and one of the world's premier custodian banks, with over $43 trillion in assets under custody and administration.
State Street is a trusted partner to the world's institutional investors, including mutual fund managers, pension funds, and sovereign wealth funds. Through State Street Global Advisors (SSGA), the firm created the first exchange-traded fund in the United States (the SPDR S&P 500 ETF, ticker SPY) and is one of the world's top asset managers.
What State Street Does
Investment Servicing & Global Custody
Safekeeping global securities, multi-asset fund accounting, daily NAV valuation, financial reporting, and shareholder servicing.
State Street Global Advisors (SSGA)
Managing trillions in institutional assets across SPDR ETFs, index replication strategies, active quantitative funds, and ESG mandates.
State Street Alpha Platform
End-to-end investment servicing platform connecting Charles River front-office portfolio management to back-office custody.
Global Markets & Securities Lending
Institutional FX execution, global agency securities lending, repo financing, and treasury balance sheet management.
Career Areas
Types of professional roles found inside State Street.
- Investment Accounting & Fund Administration
- Financial Technology & Charles River Development
- Global Markets Trading & Treasury
- Custody Operations & Client Service
State Street's History
- 1792Founded as Union Bank in Boston
Union Bank is chartered in Boston, later evolving into State Street Bank and Trust Company.
- 1924First Mutual Fund Custodian
Acts as custodian for the Massachusetts Investors Trust, the world's first modern open-end mutual fund.
- 1993Invention of the SPDR ETF (SPY)
Launches the first exchange-traded fund in the US—the SPDR S&P 500 ETF—sparking the global ETF revolution.
- 2018Charles River Development Acquisition
Acquires Charles River Development for $2.6B, creating the State Street Alpha front-to-back asset servicing platform.
Purpose & Values
“Helping global investors create better outcomes for people everywhere”
