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State Street Corp.

Headquarters: One Lincoln Street
Boston, MA 02111
Employees: 29,970
CEO: Joseph Hooley
Stock Symbol: STT

Website: http://www.statestreet.com

Career Page

State Street is a world leader in financial services and provides a full range of products and services for large pools of investment assets.

The company's clients include mutual fund companies and other investment managers, corporations, public pension funds, unions, non-profit organizations, and families and individuals.

In 2014, State Street reported revenues of $10.3 billion, a 4.2% increase, and net income of $2.06 billion.

The company has more than $28.1 trillion in assets under custody and $2.44 trillion in assets under management.

History

In 1792, the same year that the New York Stock Exchange debuted, Massachusetts Governor John Hancock approves the charter for the Union Bank, State Street's oldest ancestor bank. Until its merger with State Street Trust Company in 1925, the Union Bank is the state's oldest bank in continuous existence, and America's second oldest.

1863 - With the passage of the National Currency Act, the Atlas, Webster and Rockland banks all apply for and receive national charters. These three banks later merge to become State Street ancestor, the Rockland-Atlas Bank.

1924 - State Street is named custodian of the first U.S. mutual fund. The company never relinquishes its leadership role in servicing the nation's mutual fund companies, and today is the largest U.S. mutual fund custodian, with responsibility for more than 40% of the industry's funds.

1961 - State Street Bank and Trust Company - the legal entity under which State Street does business today - is formed by the merger of the Rockland-Atlas National Bank and the Second Bank-State Street Trust Company.

1970 - State Street stock becomes available on the over-the-counter (OTC) market. The company opens its first international office in Munich. Twenty-seven years later, the company breaks ground on a new office building in Munich to support our business growth in Germany. Further expansion into Europe follows quickly, as State Street's London office opens in 1972.

1991 -State Street's assets under custody surpass $1 trillion, and in 1992 assets under management reach $100 billion.

1995 - State Street stock (STT) becomes available on the New York Stock Exchange (NYSE).
 
1999 - State Street sells its retail and commercial banking business to Providence, Rhode Island-based Citizens Bank.

2012 - State Street buys Goldman Sachs' hedge fund administration unit for $550 million in cash.

Benefits

- A selection of comprehensive medical plan options, such as a health maintenance organization (HMO), a preferred provider organization (PPO), or an indemnity plan, each offering a different level of provider choice
- Dental and vision coverage
- Flexible spending accounts for health care, dependent care and transportation needs
- Employee and family life insurance
- Accidental death and dismemberment coverage
- Short term and long term disability
- Savings and retirement plans, including 401(k) with company match and employer-paid pension plan
- Generous holiday and vacation policy, plus option to buy/sell up to 5 days of vacation
- Adoption Assistance Plan
- Support for continuing education

Updated January 23, 2015

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