State Street Investment Management
| Company type | Subsidiary |
|---|---|
| Industry | Investment management, Asset management, Wealth management |
| Founded | 1978 in Boston, Massachusetts, United States |
| Headquarters | Boston , United States |
Area served | Worldwide |
Key people | Yie-Hsin Hung (CEO) |
| Products | Asset management, Wealth management, ETFs, Mutual funds |
Number of employees | 2500+ |
| Parent | State Street Corporation |
State Street Investment Management—previously known as State Street Global Advisors (SSGA)—functions as the investment management arm of State Street Corporation, established in 1978. As of December 31, 2023, it stands as the world's fourth-largest asset manager, overseeing nearly in assets under management. Operating under the umbrella of State Street Bank and Trust Company, it caters to a diverse international clientele comprising governments, corporations, endowments, non-profit organizations, corporate treasurers, CFOs, asset managers, and financial advisors.
Based in Boston, Massachusetts at One Congress Street, State Street Investment Management employs over 2,500 professionals distributed across 28 countries. Its offerings concentrate on Asset management and Wealth management, utilizing strategic leadership to sustain a prominent position within the investment management sector.
The firm’s operational approach emphasizes crafting and administering investment strategies tailored for institutional and intermediary clients globally. This supports business expansion and competitive positioning through innovation and worldwide presence. Led by key executives such as CEO Yie-Hsin Hung, the company advances its strategic goals and maintains industry prominence.
As a subsidiary, it benefits from integration with State Street Corporation’s wider financial services network, which bolsters its market reach and financial outcomes in the global investment arena.
History
Founded in 1978 in Boston, Massachusetts, State Street Global Advisors (SSGA) served as the asset management division of State Street Corporation. Its early offerings included a domestic index fund, an international index fund tracking the MSCI EAFE index, and a short-term investment fund. By 1989, SSGA managed assets totaling $53 billion.
In 1990, SSGA was established as an independent entity separate from State Street Bank with the objective of global expansion. It opened its inaugural overseas office in London and grew to encompass 15 offices by 1999, including major financial hubs like Brussels, Hong Kong, Toronto, Paris, Sydney, Tokyo, Dubai, and Chicago.
SSGA was a pioneer in launching exchange-traded funds (ETFs) with the debut of the S&P 500 SPDR (Ticker: ) in 1993. Today it ranks as the third-largest ETF manager worldwide after BlackRock and Vanguard. The firm's assets under management surged from $161 billion in 1994 to $667 billion by 1999. By 2006, non-US investors accounted for one-third of its assets.
Significant milestones include:
- Moving its Boston headquarters to the State Street Financial Center at One Lincoln Street in 2003.
- Introducing the first foreign real estate ETF (Ticker: ) in 2006 to give US investors access to international real estate markets.
- Acquiring Bank of Ireland Asset Management in 2011 for about €57 million, enhancing its footprint in Ireland where it employed over 2,000 staff by 2010.
SSGA is a participant in the "Principles for a Responsible Civilian Firearms Industry," demonstrating its dedication to responsible investing.
In 2025, SSGA underwent rebranding to become State Street Investment Management and unveiled a new corporate logo consistent with its parent company State Street Bank.
Products and services
State Street Investment Management focuses on delivering tailored investment solutions to institutional clients, managing assets primarily through pooled funds. As of March 2007, the firm offered 46 ETF products in the United States, which track a variety of international and domestic indices based on factors such as market capitalization, investment style, sector, industry, or commodity. These ETFs are also marketed globally under the streetTracks brand in countries including Belgium, France, Hong Kong, and Singapore.
The firm’s portfolio includes 26 Mutual Fund offerings segmented by investment category, such as money markets, bonds, equities, and diversified funds of funds (also known as lifestyle funds). To strengthen its global reach, State Street Investment Management partners with seven firms to create region-specific investment strategies. Notable collaborators include Advanced Investment Partners, Asian Direct Capital Management, GovernanceMetrics International (GMI), Innovest Strategic Value Advisors, Rexiter Capital Management, Shott Capital Management, SSARIS Advisors, The Tuckerman Group, and Wilton Asset Management.
Fearless Girl
In March 2017, State Street Global Advisors unveiled the Fearless Girl sculpture by artist Kristen Visbal in Manhattan’s Financial District. This initiative was part of a promotional campaign for an index fund targeting companies with gender-diverse leadership at senior levels. Although designed to advocate for women in corporate leadership and gender diversity within business, the statue generated controversy and criticism as an example of "corporate feminism," prompting discussions about its consistency with wider feminist values.
Lawsuits
In October 2007, multiple pension funds filed lawsuits against State Street Corp., alleging mismanagement of bond funds by SSGA. The following year, in 2008, State Street Bank was sued by Trust Co. over Fixed Income Funds Investment issues; this case was resolved by 2010.
A class action lawsuit was brought in April 2009 accusing SSGA of choosing illiquid and high-risk securities for short-term liquid fund products. Later, in October 2017, SSGA agreed to a settlement exceeding $5 million concerning allegations of wage discrimination against female and African-American employees.