State Street Corp
State Street Corporation
FIN 360
April 10, 2013
State Street Corporation is a financial services holding company based in the United States. State Street was founded in 1792 and is located in the Financial District of Boston, Massachusetts. The company provides a full range of products and services for large pools of investment assets. With $18.79 trillion in assets under custody and $1.91 trillion in assets under management, their primary clients are institutional investors (State Street, 2013). STT operates in 25 countries and in more than 100 markets worldwide. State Street manages for some of the world 's largest money managers and asset owners with foreign exchange services and transition management services, and quantitative research and technology-driven tools.
State Street is a financial holding company organized under the laws of the Commonwealth of Massachusetts and is one of the leading specialists in serving sophisticated investors worldwide. The Federal Reserve System is the primary federal banking agency responsible for regulating State Street and its subsidiaries, including State Street Bank and Trust Company. State Street’s U.S. banking subsidiaries are also subject to regulation by the Massachusetts Commissioner of Banks, the Federal Deposit Insurance Company and the Comptroller of the Currency. The company is a global company and is subject to the regulatory authorities of those countries in which a branch or subsidiary of State Street is located or conducts business (Governance Guidelines, 2013)
State Street has deep roots in the commercial history of Boston, going back to the days when the city was a busy shipping port and the primary business for the new nation. In the last years of the 1700s, a group of prominent Bostonians gathered together to create a new bank, which would be Boston’s third bank. John Hancock, Massachusett’s first governor, signed the bank’s charter on June 25, 1792. The bank was initially named Union Bank and was
FIN 360
April 10, 2013
State Street Corporation is a financial services holding company based in the United States. State Street was founded in 1792 and is located in the Financial District of Boston, Massachusetts. The company provides a full range of products and services for large pools of investment assets. With $18.79 trillion in assets under custody and $1.91 trillion in assets under management, their primary clients are institutional investors (State Street, 2013). STT operates in 25 countries and in more than 100 markets worldwide. State Street manages for some of the world 's largest money managers and asset owners with foreign exchange services and transition management services, and quantitative research and technology-driven tools.
State Street is a financial holding company organized under the laws of the Commonwealth of Massachusetts and is one of the leading specialists in serving sophisticated investors worldwide. The Federal Reserve System is the primary federal banking agency responsible for regulating State Street and its subsidiaries, including State Street Bank and Trust Company. State Street’s U.S. banking subsidiaries are also subject to regulation by the Massachusetts Commissioner of Banks, the Federal Deposit Insurance Company and the Comptroller of the Currency. The company is a global company and is subject to the regulatory authorities of those countries in which a branch or subsidiary of State Street is located or conducts business (Governance Guidelines, 2013)
State Street has deep roots in the commercial history of Boston, going back to the days when the city was a busy shipping port and the primary business for the new nation. In the last years of the 1700s, a group of prominent Bostonians gathered together to create a new bank, which would be Boston’s third bank. John Hancock, Massachusett’s first governor, signed the bank’s charter on June 25, 1792. The bank was initially named Union Bank and was
Cited: State Street Corp. to Pay $300 Million in Subprime Mortgage Case. (2010, February 4). Retrieved April 2, 2013, from Business-Ethics.com: http://business-ethics.com/2010/02/04/1331-state-street-corporation-to-pay-300-million-subprime-morgtage-cas/ Code of Ethics for Senior Financial Officers. (2013, February 1). Retrieved April 4, 2013, from StateStreet.com: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTc4MDM3fENoaWxkSUQ9LTF8VHlwZT0z&t=1 Governance Guidelines. (2013, February 1). Retrieved April 7, 2013, from Statestreet.com: http://phx.corporate-ir.net/phoenix.zhtml?c=78261&p=irol-govGuidelines State Street. (2013, March 22). Retrieved April 7, 2013, from Wikinvest.com: http://www.wikinvest.com/stock/State_Street_(STT) Anonymous. (2012). Hill V. State Street, 2011 WL3420439. Benefits Quarterly, 28(3), 55. Pederson, J. P. (2004). International Directory of Company Histories, Vol. 57. St. James: St. James Press.