Office address: 1 Congress Street, Suite 1, Boston, Massachusetts 02114
Website: ssga.com
Year established: 1978
Company type: financial services
Employees: 2,500+ (SSGA)
Expertise: asset management, ETFs, index funds, active strategies, retirement solutions, fixed income, equity, multi-asset, sustainable investing, risk management
Parent company: State Street Corporation
Key people: Yie-Hsin Hung (CEO), Lori Heinel (EVP), Jennifer Bender (global chief investment strategist), Olivia Engel (department head), Daniel Farley, Michael Solecki, and Matthew Steinaway (chief investment officers)
Financing status: corporation
State Street is an asset manager based in Boston, with about $5.5 trillion in assets. The firm offers ETFs, mutual funds, cash solutions, and investment strategies for institutional, professional, and individual investors. It is known for creating the first US ETF in 1993 and serves clients worldwide through its global scale and experience.
State Street Global Advisors (SSGA) is now called State Street Investment Management, which this profile will explore in detail.
State Street began in 1978 as the investment arm of State Street Bank. The firm first focused on equity index and cash solutions for institutional clients, including financial institutions and corporate pensions. Over time, it expanded its expertise and client base, which built a reputation for reliability and scale.
The 1980s brought new opportunities as the company attracted non-profits, insurance providers, and official institutions. The company soon added active quantitative strategies to better serve its growing list of clients. By the end of the decade, it had:
A turning point came in 1993 with the launch of the first US exchange-traded fund, in partnership with the American Stock Exchange. This new product made investing more accessible for many people and set the stage for more innovation.
The firm later introduced the first US mid-cap ETF, sector ETFs, and Asia ex-Japan’s first ETF. This showed a commitment to expanding investment options.
The 2000s and 2010s saw the company list ETFs in Europe and Australia and partner with the World Gold Council to launch the first US gold-backed ETF. In 2017, State Street commissioned the Fearless Girl statue on Wall Street, which became a symbol of women’s leadership and sparked global attention.
In recent years, it has formed partnerships with firms like Nuveen and Bridgewater to open new markets and increase access. In 2025, it rebranded from State Street Global Advisors to State Street Investment Management to reflect its growth and strategic goal.
That same year, State Street took a minority stake in Apex Fintech Solutions. The partnership will help develop a digital, globally scalable custody and clearing solution for advisors and clients.
State Street Investment Management offers a wide range of investment products and services for institutional, professional, and individual investors:
State Street Investment Management also offers tailored strategies, risk management tools, and global investment access. Its scale and experience help clients find solutions for a range of investment goals.
State Street says that its culture centers on collaboration and supporting employee growth through training and resources. The firm states that it aims to provide a forward-looking, employee-focused environment where people can build their skills and explore new paths.
State Street also highlights a range of benefits for staff and their families:
State Street values the unique perspectives of over 50,000 colleagues worldwide and promotes a culture of belonging. The company states that talent decisions are based on skills and experience, supporting equal opportunities in all global roles.
Yie-Hsin Hung is the president and CEO of State Street Investment Management. Before joining the firm, Hung was CEO at New York Life Investment Management, a global investment company. She holds an MBA from Harvard and a bachelor’s degree in mechanical engineering from Northwestern University.
The global investment team leads State Street Investment Management with deep experience and specialized roles:
The leadership team brings global perspective and local insight into every decision. Their expertise helps drive the firm’s investment approach and client outcomes.
State Street Corporation appointed Joerg Ambrosius as president of Investment Services in 2024 to sharpen its client focus. The company expects his leadership to improve operations and strategy for clients in its largest business. The company sees this step as key to future growth and client value.
In 2025, SSGA launched the SPDR SSGA Apollo IG Public & Private Credit ETF (PRIV), giving retail investors new access to private credit markets. The fund uses a partnership with Apollo Global Management to address liquidity concerns and blends public and private investment-grade credit. This innovation may shape future ETF offerings and shows State Street’s focus on expanding investment options for clients.
Private capital would prove more critical to reaching the Paris Agreement aim of net-zero carbon emissions by 2050.
BondBloxx, founded by a group of former BlackRock executives, will offer fixed-income exchange-traded funds that target specific industry sectors.
Apollo Global Management is a New York-based asset management firm co-founded in 1990 by Marc Rowan, with 2,900+ staff across 30 cities and $72.4 billion AUM.
The deal would be a big one, given that State Street Global Advisors, the bank's asset management unit, has about $4 trillion in assets.
Rob Foregger, who led the establishment of the fintech firm in 2013, left his day-to-day responsibilities at the company in May, but is still a shareholder and adviser.
The deal will increase the mountain of assets at State Street — already one of the world's top custody banks — to $37.3 trillion.
For several months, SEC examiners have been demanding that money managers explain the standards they use for classifying funds as environmental, social and governance-focused.
On Thursday, the asset manager's shares had plunged as much as 14.2% on the news that Germany’s financial markets regulator, BaFin, and U.S. prosecutors were probing claims by a former sustainability executive that DWS overstated the amount of assets adhering to social and environmental criteria.
The robo-adviser allows users to choose between six types of portfolios using exchange-traded funds that are curated by investment experts.
More than half the climate-themed funds reviewed by a nonprofit failed to live up to the climate goals set out in the Paris Agreement, while just over 70% of funds promising ESG goals fell short.
The company plans to close its two midtown Manhattan offices, and its New York-based staff will work remotely or from buildings in New Jersey and Connecticut.
Almost half believe that fund management costs are included in fee they pay their adviser, according to a State Street survey.
Legg Mason vet Joe Sullivan is bullish on the future of Allspring Global Investments. The $604 billion asset management arm of Wells Fargo & Co. is being acquired for $2.1 billion by GTCR and Reverence Capital Partners.
Now even the most storied money managers are launching exchange-traded funds in a bid to stay relevant, and some — like Vanguard Group — are handling their clients’ conversions for them.
To avoid data inefficiency, alternative managers must take a tech-led approach to meet the evolving needs of their clients, State Street says.
