State Street Corp

statestreet.com

State Street Corp (NYSE: STT) is a financial services company that provides investment servicing and investment management to institutional investors. It makes money through fee-based services including custody, fund administration, securities lending, foreign exchange, and cash management, as well as through net interest income from its banking operations. State Street is one of the largest custodian banks in the world, competing primarily with BNY Mellon and JPMorgan Chase in institutional asset servicing. The company operates two core business segments: Investment Servicing, which handles back- and middle-office functions for asset owners and asset managers, and Investment Management, conducted through its SPDR ETF and index business under the State Street Global Advisors brand. High switching costs from deeply embedded custody and fund accounting relationships create meaningful client retention. State Street is headquartered in Boston, Massachusetts. The filing reviewed is the 10-K filed February 19, 2026, for the fiscal year ended December 31, 2025.