#10. State Street Bank and Trust Company ($171,227,778,000)


State Street Bank and Trust Company
225 Franklin Street
Boston, MA 02110
http://www.statestreet.com

 

  1. Background
State Street Bank and Trust Company is a a subsidiary of the State Street Corporation, a financial services holding company headquartered in Boston, MA.  State Street focuses on institutional investors and investment management.  Its customers include mutual funds, collective investment funds, corporate and public pension funds, companies, and non-profit organizations.  

FDIC Certificate # 14
Bank Charter Class Commercial Bank
Asset Concentration All other > $1 Billion
Product Specialty Standard banking


  1. Key Information & News

Number of Branches: 1 office in the U.S.
Number of Employees: 27,603 employees.

Executives
CEO Ronald E. Logue
CFO Jeffrey N. Carp
COO Joseph L. Hooley

2008 News
  • Received $2 billion in TARP money on October 28, 2008.
2009 News
  • Cut its 2009 outlook and announced a more conservative reinvestment plan, where money from maturing mortgage-backed securities would be moved into central bank deposits.  It will also cut 2008 bonuses by about 50 percent from 2007 levels for most employees and eliminate bonuses for the company’s top five executives.  (February 5, 2009)

  1. Financial Data Overlay
Bank Financial Snapshots
Assets $171,227.778 millions 27.80%
Liabilities $157,888.879 millions 29.30%
Net Income $1,814.088 millions 45.50%

 

 

 

 

 

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