netrashetty
Netra Shetty
State Street Corporation, or just simply State Street is a U.S. based financial services holding company. State Street was founded in 1792, and is headquartered in the Financial District area of Boston at One Lincoln Street.[2] State Street has offices in major financial centers in North America, Europe and Asia such as London, Edinburgh, Boston, New York City, Chicago, Los Angeles, Kansas City, Missouri, Frankfurt, Zürich, Munich, Cologne, Vienna, Grand Cayman, Paris, Amsterdam, Cape Town, Hong Kong, Beijing, Singapore, Sydney, Dubai, Dublin, Luxembourg, Krakow, Milan, Montreal, Seoul, Tokyo, Taipei, and Toronto.
State Street Bank and Trust Company, a leading custodian bank, 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. State Street Bank provides securities services to institutional investors as a custodian bank and SSgA provides investment management services to mutual funds and other asset managers. State Street customers include mutual funds and their advisers, collective investment funds, corporate and public pension funds, insurance companies, operating companies and non-profit organizations.
The company employs 27,310 staff around the world,[3] which is down from 2008 levels after laying off approximately 1,400 employees. This impacted about 6% of global staffing, eastern Massachusetts bearing the bulk of the reductions. The layoffs were instituted despite State Street following suit like some of its competitors and other wall street firms with near-shoring efforts (transferring positions to lower cost US cities) and offshoring positions to joint venture operations in cities including Mumbai, Pune and Krakow. The bank claims assets under custody of US$17.9 trillion and assets under management of US$1.7 trillion as of September 30, 2009.[4]
The company announced in December 2010 it would be laying off 5% of its workforce and effectively cutting all employees wages by 10% by requiring that all employees work week be raised from the 36.25 hours to 40 hours while being paid the same wages as they did for the 36.25 hours. [5]
State Street Bank and Trust Company, a leading custodian bank, 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. State Street Bank provides securities services to institutional investors as a custodian bank and SSgA provides investment management services to mutual funds and other asset managers. State Street customers include mutual funds and their advisers, collective investment funds, corporate and public pension funds, insurance companies, operating companies and non-profit organizations.
The company employs 27,310 staff around the world,[3] which is down from 2008 levels after laying off approximately 1,400 employees. This impacted about 6% of global staffing, eastern Massachusetts bearing the bulk of the reductions. The layoffs were instituted despite State Street following suit like some of its competitors and other wall street firms with near-shoring efforts (transferring positions to lower cost US cities) and offshoring positions to joint venture operations in cities including Mumbai, Pune and Krakow. The bank claims assets under custody of US$17.9 trillion and assets under management of US$1.7 trillion as of September 30, 2009.[4]
The company announced in December 2010 it would be laying off 5% of its workforce and effectively cutting all employees wages by 10% by requiring that all employees work week be raised from the 36.25 hours to 40 hours while being paid the same wages as they did for the 36.25 hours. [5]
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