State Street Corporation

State Street Corporation is an American multinational financial services and bank holding company headquartered at One Congress Street in Boston. It is the second-oldest continuously operating U.S. bank, tracing its roots to Union Bank, chartered in 1792. As of the third quarter of 2025, State Street is one of the world's largest asset managers and custodians, with approximately US$5.4 trillion in assets under management and US$51.7 trillion under custody and administration.

State Street operates globally through three main divisions: Global Services (custody and fund administration), Global Advisors (asset management), and Global Markets (trading and research). It is considered a systemically important bank by the Financial Stability Board and ranks among the "Big Three" index fund managers alongside BlackRock and Vanguard.

The company is ranked 198th on the Fortune 500 as of 2025. The company is on the list of the banks that are too big to fail published by the Financial Stability Board. It is rated by Visual Capitalist as the third U.S. bank by uninsured deposits, with 91.2% of deposits being uninsured.

State Street Bank and Trust Company, also known as State Street Global Services, is the securities services division of State Street that provides asset owners and managers with securities services (e.g. custody, corporate actions), fund accounting (pricing and valuation), and administration (financial reporting, tax, compliance, and legal) services. Global Services handles assets from many classes, including stocks, derivatives, exchange-traded funds, fixed income assets, private equity, and real estate. Global Services also provides outsourcing for operations activities and handles US$10.2 trillion of middle-office assets.

State Street Investment Management is the investment management division of State Street that provides asset management, research, and advisory services to corporations, mutual funds, insurance companies, and other institutional investors. Global Advisors develops both passive management and active management strategies using both quantitative and fundamental approaches.

In 1993, the company created the SPDR S&P 500 Trust ETF, the first exchange-traded fund (ETF), and is now one of the largest ETF providers worldwide. Trading on SPDR began January 29, 1993.

Global Markets is State Street's securities business that offers research, trading, and securities lending services for foreign exchange, equities, fixed income, and derivatives. To avoid a conflict of interest, the company does not run proprietary trading books. Global Markets maintains trading desks in Boston, Hong Kong, London, Singapore, Sydney, Toronto, Tokyo and São Paulo.

The company traces its roots to Union Bank, which received a charter in 1792 from Massachusetts Governor John Hancock. It was the third bank to be chartered in Boston and its office was at the corner of State and Exchange Streets. In 1865, Union Bank received a national charter and became the National Union Bank of Boston. The bank later built a headquarters at Washington and State streets. The company is named after State Street in Boston, which was known as the "Great Street to the Sea" in the 18th century as Boston became a flourishing maritime capital.