State Street Project

State Street is one of the world’s leading providers of investment products and services with $18.8 billion in assets under custody and management as of December 31, 2009.  


Develop an enterprise-wide, global strategy affecting over 16,000 FTEs and 7 business units to gain processing efficiencies and manage risk across the corporation.

Approach & Results

Led the analysis of nearly 500 processes across the 7 business units of the corporation with an emphasis on global sourcing.  The processes were analyzed for their ability to be improved or outsourced.

Identified various scenarios for processing the business more efficiently while managing custodial risks.  The primary strategy was focused on establishing processing hubs that could serve to efficiently deliver processes such as reconciliations, reporting, analytics, and other functions.

Recommended a model to establish 3 worldwide processing hubs in North America, Europe, and Asia Pacific to balance global processing demands, risk mitigation strategies, and cost advantages.  The cost-benefit on the model identified tens of millions of dollars of annual savings.