State Street Corp.
Headquarters:
One Lincoln Street
Boston, MA 02111
Employees: 29,000
CEO: Jay 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 2009, State Street had revenues of $9.3 billion and net loss of $1.8 billion.
The company has more than $20.2 trillion in assets under custody and $1.9 trillion in assets under management.
In May, State Street completed the acquisition of Intesa Sanpaolo's Securities Services business (ISPSS) in Italy for EUR 1.28 billion in cash.
The company said in December it would cut 1,400 jobs over the next year.
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.
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
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