State Street Corporation history, profile and corporate video
State Street Corporation is an American financial service and bank holding company headquartered in Boston, Massachusetts, U.S. It traces its roots to its predecessor, Union Bank, which was founded in 1792 when received a charter from Massachusetts Governor John Hancock.
Union Bank became the National Union Bank of Boston, in 1865.
In 1925, State Street and National Union merged, and the newly merged bank took the State Street name, but it operated under National Union’s charter, thus giving the current company its rank among the oldest banks in the United States.
It also merged with Second National Bank in 1955 and with the Rockland-Atlas National Bank in 1961.
The name of the company was chosen 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. Its logo also includes a clipper to reflect the maritime industry in Boston during this time.
The company operates through the following divisions: State Street Global Advisors, State Street Global Services, State Street Global Markets, and State Street Global Exchange.
State Street Global Services
It is the investment servicing division of State Street and handles assets, including stocks, derivatives, exchange-traded funds, fixed income assets, private equity, and real estate.
State Street Global Markets
It is the securities division of State Street and offers research, trading, and securities lending services for foreign exchange, stocks, fixed income, and derivatives.
With more than 39 000 employees, State Street Corporation is a Fortune 500 company, which is considered the second-oldest continually operating United States bank, one of the largest banks in the United States by assets, one of the largest asset management companies in the world, and one the largest custodian banks in the world. According to Forbes, it is considered one of ”America’s Best Banks” and one of the top 2000 largest public companies in the world
*Information from Forbes.com, Wikipedia.org, and ”www.statestreet.com/home”.
**Video published on YouTube by “ALPHA GRID“.
