mast image

Special Report

Impact investing

Sections

Seligman picks State Street for operations support

US – Boston-based State Street Corporation is to take over operations support for the $25bn (€26.7bn) assets under management of New York-based investment management firm, J&W Seligman.

State Street already provides custody, accounting and administration services to Seligman’s US-based and offshore investment companies and products worth $16bn.

The expanded relationship will include trade support and settlement, portfolio record keeping, and systems for their trading platforms. State Street will provide the new services through its Investment Manager Solutions business. In addition, State Street will offer administration support to Seligman’s managed account programme.

Last year State Street took over operations management for Pimco’s $180bn fixed income assets, as well as the custody and trustee administration services for Edinburgh-based Scottish Widows’ £78bn pension and life funds and unit trusts.

Says John Clark, managing director at Seligman: “State Street can deliver efficiencies of scale that should provide our clients with faster processing and more robust reporting. This will enable us to focus more attention on investment management and client services.”

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

Begin Your Search Here
<