State Street Corporation (NYSE: STT)
Asset Management · Boston, MA, United States · Founded 1792
- Market capitalization: $25.0 billion
- Annual revenue: $13.94 billion
- Net income: $2.94 billion
- Employees: 46,000
- Sector: Financial Services
- Headquarters: Boston, United States
- Founded: 1792
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State Street Corporation is one of the world's largest custodian banks and asset managers, providing investment servicing, investment management, and data analytics to institutional investors. The company's State Street Global Advisors division manages the SPDR family of ETFs, including the SPDR S&P 500 ETF (SPY)—the world's largest and most traded ETF. State Street custodies over $40 trillion in assets.
State Street earns revenue from custody and fund administration fees (charged as basis points on assets under custody), asset management fees from its ETF and index fund business, and trading services revenue. The custody business benefits from rising asset values, as fees are tied to assets under custody.
State Street was founded in 1792, making it one of the oldest financial institutions in the US. The company launched SPY in 1993—the first US-listed ETF—which became the most traded security in the world. State Street's acquisition of Investors Financial Services in 2007 and the Charles River Development platform in 2018 expanded its capabilities.
| Market Capitalization | $25.0B |
| Annual Revenue | $13.94B |
| Net Income | $2.94B |
| Profit Margin | 21% |
| Revenue per Employee | $303043K |
| Stock Exchange | NYSE |
| Ticker Symbol | STT |
Financial data is approximate and based on most recent annual filings.
State Street's SPY ETF trades more daily volume than any other security on Earth—often exceeding $30 billion per day. The company commissioned the "Fearless Girl" statue on Wall Street in 2017 as part of a gender diversity campaign, creating one of the most iconic pieces of corporate activism.
State Street is a scale business in a scale industry—custody fees are razor-thin, and only the largest players can compete. The ETF franchise is a crown jewel, but fee compression across the asset management industry is a permanent headwind.
What is State Street Corporation's revenue?
State Street Corporation generates approximately $13.94 billion in annual revenue.
How many employees does State Street Corporation have?
State Street Corporation employs approximately 46,000 people worldwide.
What is State Street Corporation's market cap?
State Street Corporation (STT) has a market capitalization of approximately $25.0 billion on the NYSE.
When was State Street Corporation founded?
State Street Corporation was founded in 1792 and is headquartered in Boston, MA, United States.
Who is the CEO of State Street Corporation?
Ron O'Hanley is the current CEO of State Street Corporation.
What is State Street Corporation's website?
State Street Corporation's official website is statestreet.com.
| CEO | Ron O'Hanley |
| Sector | Financial Services |
| Industry | Asset Management |
| Founded | 1792 |
| HQ | Boston, MA |
| Country | United States |
| Website | statestreet.com |
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