A major coup for Charles River Development, which is owned by State Street, where Vanguard has consolidated management of its taxable money market funds on the cloud-based Charles River Investment Management Solution. Vanguard is already live on the platform, using Charles River IMS across the investment process, from pre-trade to post-trade and compliance. Paul Malloy,…
Category: State Street
State Street opens in Riyadh
State Street has opened its first Saudi Arabia office, located in Riyadh. The new office will provide both institutional services and asset management. State Street Saudi Arabia has appointed Abdullah Saleh Bakhrebah as chief executive officer and managing director. Bakhrebah has more than 12 years’ experience in Saudi Arabia’s banking and finance industry, and was…
Citi takes USD9bn of John Hancock fund assets from State Street
A major breakthrough for Citi in the ’40 Act space, where John Hancock Investment Management has transferred the custody of USD9bn in fund assets to Citi from State Street. Citi has assumed custody for three Hancock funds: the Fundamental Large Cap Core, the Balanced and the Disciplined Value International, Citi has an existing mutual fund…
BNY Mellon adds senior talent across asset servicing business
BNY Mellon has made some significant hires across its asset servicing business. Mark McKeon joins as global head of front-to-back solutions, based in Dublin. He is charged with expanding asset servicing’s front-to-back solutions platform globally, connecting the front, middle and back office to deliver a seamless platform for clients. His remit will include OMS partnerships,…
State Street to service four new actively managed ETFs for T. Rowe Price
State Street has scored another major coup in the ETF sector, having been appointed as service provider for four recently launched T. Rowe Price active ETFs. For the past three years, State Street has supported T. Rowe Price in the development of service models and launch planning, culminating in the funds’ public availability. As part…
State Street’s BestX launches equities TCA module
BestX, State Street’s FX and fixed income best execution analytics platform, has expanded its execution analytics software and launched a post-trade transaction cost analysis module for equity markets. State Street, which bought TCA specialist Elkins/McSherry in 1999, intends to integrate both platforms to deliver a single TCA offering.
Michael O’Loughlin joins State Street from BNY Mellon
Michael O’Loughlin has joined State Street’s insurance and asset management sales team in the U.S. He previously spent 14 years at BNY Mellon.
State Street realigns Management Committee
State Street has made some significant changes to its Management Committee, the company’s most senior strategy and policy-setting team. Francisco Aristeguieta will establish a new global unit, Institutional Services, which will include the global clients division, segments, sales and client coverage, client program office, and marketing. Reporting to Aristeguieta will be Donna Milrod, head of…
BNY Mellon’s Kate McCabe joins State Street as AO sector sales lead
State Street has hired Kate McCabe as sector sales lead for its asset owners team, based in the U.S. McCabe joins from BNY Mellon, where she spent a total of 25 years in two stints, most recently as U.S. head of asset owner business development. Last year State Street hired Bob Dollard from BNY Mellon…
FNZ and State Street to collaborate on wealth manager servicing
FNZ and State Street are collaborating on a new wealth manager servicing venture. FNZ will acquire a majority stake in State Street’s wealth manager services (WMS) business, with State Street retaining a minority interest. Terms of the transaction, which is expected to close in Q4 2020, are not being disclosed. Upon full implementation, the new…