Paper on State Street Corporation

How has the business model evolved?

State Street, a world leader in financial services, provides a full range of products and services for large pools of investment assets. Their clients include mutual fund companies and other investment managers, corporations, public pension funds, unions, non-profit organizations, and families and individuals. They look to State Street for custody and management of their assets, accounting, daily pricing, and administration of their funds. The information and analytical tools that State Street provides help them make investment decisions and negotiate complex, global financial markets efficiently and effectively.

1792: State Street’s oldest ancestor bank Union Bank was incorporated as public company. Union Bank becomes the third chartered bank in Boston.

1863: Atlas, Webster, Rockland banks receive national charter, which merge later to form Rockland-Atlas Bank. These banks later merged to become State Street ancestor.

1891: State Street Trust Company was chartered in Boston. 

1924: State Street Trust Company becomes custodian of the nation's first mutual fund. 

1925: Union Bank merged State Street Trust Company.

1961: Rockland-Atlas National Bank merged with State Street Trust Company.

1963: State Street Bank and Trust Company breaks ground for its new headquarters at 225 Franklin Street in Boston, Massachusetts. In 1964, State Street opened office in New York and in 1966 in Quincy MA.

1970: State Street opens its first international office in Munich, Germany. They expanded further into Europe by opening State Street’s London office in 1972.

1975: State Street begins changing its focus from commercial banking to investments, trusts, and securities processing

1982: State Street continues its global expansion, opening its first Asian office in Hong Kong.

By mid 1980s, State Street has been transformed from a regional retail and commercial bank to a global financial services provider — with an enhanced emphasis on...