Review: Is State Street Corporation Reputable?
State Street Corporation is a financial titan with a long history, but its reputation can be multifaceted. Let's delve into the various aspects that contribute to its overall standing.
Financial Strength and Industry Recognition
State Street boasts the title of the world's largest custodian bank, entrusted with safekeeping trillions of dollars in assets for its clients. This dominant position, coupled with its designation as a systemically important bank by the Financial Stability Board, signifies exceptional financial strength and stability.
Investment Management Powerhouse
State Street Global Advisors (SSgA) is the investment management arm of State Street, ranking a formidable second only to BlackRock in terms of Assets Under Management (AUM). This makes SSgA a major force in the investment world, offering a vast array of investment products and services for individuals and institutions alike.
Employee Reviews: A Spectrum of Experiences
Employee reviews on platforms like Comparably paint a somewhat mixed picture. While the customer support team appears to have a generally positive experience, reviews from other departments within the company vary. Some employees praise the work culture and opportunities for professional development, while others express dissatisfaction with aspects like compensation and benefits. It's important to consider the specific department or role you're interested in when evaluating employee sentiment.
State Street Advisory: A Different Entity
It's crucial to differentiate between State Street Corporation and State Street Advisory. State Street Advisory operates as a separate entity with a distinct reputation. BrokerChooser, a platform that reviews financial advisors, advises caution due to State Street Advisory's lack of regulation by top-tier financial authorities.
So, Is State Street Reputable? A Measured Approach
State Street Corporation itself holds a strong reputation as a reputable financial institution with a proven track record. SSgA is a leader in asset management, offering a robust selection of investment options. However, keep in mind that the reputation within the company can vary by department, and it's wise to conduct further research specific to the area you're interested in, whether it's investment services or employment opportunities. Finally, be sure to avoid State Street Advisory due to its lack of regulatory oversight.
In Conclusion
State Street is a well-established and financially sound corporation. If you're considering State Street for investment or employment, take the time to research the specific department or service you're interested in to get a more nuanced understanding of their reputation in that particular area.
