State Street Bank and Trust Company, more commonly known as State Street Global Services or simply State Street, is a subsidiary of State Street Corporation organized as a trust company based in Massachusetts specializing in services to mutual funds and their advisers, collective investment funds, corporate and public pension funds, insurance companies, operating companies and non-profit organizations. Global Services is the largest custodian bank in the world.[1][2]
It also used to provide retail banking and commercial lending products until it sold off that division in 1999 to Citizens Financial Group, of Providence, Rhode Island. The retail banking and commercial lending units were sold for $350 million. Assets under administration (AuA) $7 trillion 2Q 2017.
State Street, and its sister company State Street Global Advisors (SSgA), which is a leading registered investment advisor, together comprise the principal operating companies within parent company State Street Corporation.[3]6037997377731550
^"State Street Challenging BNY Mellon As Largest Custody Bank". November 16, 2017. {{cite magazine}}: Cite magazine requires |magazine= (help)
^"State Street leapfrogs BNY Mellon as world's largest custodian". July 20, 2018. State Street leapfrogs BNY Mellon as world's largest custodian. BNY Mellon .. previously held the rank as the largest global ..
^"Fortune500: State Street Corp". Retrieved March 27, 2020.
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