STATE STREET Business Summary

State Street Corporation (STT) is a leading global provider of financial services to institutional investors, primarily generating revenue through fee-based models across its Investment Servicing and Investment Management segments. The Investment Servicing division provides mission-critical infrastructure—including global custody, fund accounting, and daily administration—while State Street Investment Management (operating as State Street Global Advisors) earns management fees based on assets under management (AUM). The firm also captures transaction fees from foreign exchange trading and securities finance, alongside net interest income from its banking operations. As of early 2026, State Street maintains a dominant market position with approximately $49 trillion in assets under custody and/or administration (AUC/A) and $5.1 trillion in AUM, notably controlling over 40% of the global ETF servicing market. Its primary direct competitors include BNY Mellon, Northern Trust, and JPMorgan Chase; State Street differentiates itself through its "State Street Alpha" front-to-back platform and specialized institutional digital asset solutions. Tracing its roots to 1792, State Street is currently led by Chairman and CEO Ronald P. O’Hanley, who joined the firm in 2015 following leadership roles at Fidelity Investments and BNY Mellon. The executive leadership team includes Executive Vice President and CFO John Woods, formerly of Citizens Financial Group, and Yie-Hsin Hung, who serves as President and CEO of State Street Investment Management. Operational and technological strategies are directed by Chief Operating Officer Mostapha Tahiri and Chief Information Officer Andrew Zitney, a veteran of JPMorgan and McKesson. The company’s governance is anchored by a high-profile Board of Directors, including Lead Independent Director Sara Mathew, former CEO of Dun & Bradstreet, and independent director Brian J. Porter, former CEO of Scotiabank. As a publicly traded entity, State Street is characterized by high institutional ownership, with major positions held by Vanguard, BlackRock, and Dodge & Cox.