BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced it will celebrate its 225th anniversary by ringing the Closing Bell® at the New York Stock Exchange with Chairman and CEO Jay Hooley. As State Street celebrates this significant milestone, it is outlining the way ahead for the industry as being driven by asset intelligence.
“1792 saw key developments that moved the world from potential to reality,” said Hooley. “From the inception of the US dollar to the formation of the US Postal Service, assets and information took on new meaning. And just halfway into that year, John Hancock signed State Street’s earliest ancestor into existence. Over the past 225 years, our ability to change has remained constant. And it's what will continue to define our way ahead.”
Hooley will be joined by clients and colleagues representing the diversity of and the many firsts achieved by State Street, including servicing the first mutual fund; being the first company to have a global, multicurrency fund accounting platform; creating the first US-listed exchange traded fund (ETF) in 1993; and launching SHE, the gender diversity index and ETF, in 2016.
“We are delighted to celebrate this historic milestone with State Street,” said Tom Farley, president of the New York Stock Exchange. “Having a founding year of 1792 ourselves, at the NYSE we recognize that building a durable legacy is dependent on constant innovation and strong stewardship. We look forward to seeing what the next 225 years will bring and what our listed companies like State Street will do to continue shaping markets and the world around us.”
To view a video of State Street’s significant milestones click [here].
“Our next evolution is about defining our leadership position in a world where data is the new asset or currency and the future of markets will be dependent on a new form of asset intelligence, powered by technology,” concluded Hooley.
State Street also announced today the publication of its latest research, A New Climate for Growth: Cultivating Asset Intelligence to Thrive1, which outlines a new model for future growth that will allow industry participants to: 1) compete at scale; 2) align technology with ambition; and 3) cultivate the power of asset intelligence.
Later this year, State Street will also unveil a new benchmarking tool which will enable clients to benchmark themselves against the research findings and measure their preparedness for the future against their peers.
For further details on the study, please click here.
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $29.83 trillion in assets under custody and administration and over $2 trillion* in assets under management as of March 31, 2017, State Street operates globally in more than 100 geographic markets and employs 34,817 worldwide. For more information, visit State Street's website at www.statestreet.com.
AUM reflects approx. $33.33 billion (as of March 31, 2017) with respect to State Street Global Advisors Funds Distributors, LLC (SSGA FD) which serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
1 A New Climate for Growth: Cultivating Asset Intelligence to Thrive is based on a survey of more than 500 institutional investors and asset managers worldwide, focused on these institutions’ priorities for growing their assets, businesses and improving their investment performance over 1-5 years. Based on this survey’s results it highlights key conclusions that outline the strategies and models necessary to achieve these growth aims.
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