About State Street Corporation
State Street Corporation is an American financial services and bank holding company headquartered at One Lincoln Street in Boston with operations worldwide. It is the 2nd United States bank on the list of oldest banks in continuous operation. It is one of the largest asset management companies in the world with US$2.78 trillion under management and US$33.12 trillion under custody and administration. It is the largest custodian bank in the world. The company is ranked 271st on the Fortune 500. The company is named after State Street in Boston, which was known as the "Great Street to the Sea" in the 18th century as Boston became a flourishing maritime capital. The company's logo includes a clipper to reflect the maritime industry in Boston during this time. Download this slide deck to see Loren Bishop discuss their journey of operational excellence.
About the Author
Loren is the Director of the Lean Management Office at State Street Corporation. He has worked in the Lean Management Office (LMO) for the last 8 years and has led the team for the last 4 years. Prior to that he worked in a number of leadership roles in financial services; spending most of his time in Client Service and Relationship Management as well as Operations Management. It was during that time that he was involved in many client and internal initiatives which introduced him to process improvement methodologies and project management and laid the foundation for a career in operational excellence.
State Street’s LMO exists to build a sustainable culture of problem solving, innovation and process improvement that enhances the customers’ experience, empowers employees and creates shareholder value. To accomplish this mission, the LMO has developed a strategy and approach to embed continuous improvement and innovation into the culture of State Street that will enable the Lean Management System to be part of their DNA and the way that they work.
These slides were first presented at the Business Transformation and Operational Excellence World Summit (BTOES). To learn more, please visit btoes.com.
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