State Street Corporation, one of the world’s leading providers of financial services to institutional investors, announced today that it has acquired Complementa Investment-Controlling AG, an investment performance measurement and analytics firm based in St. Gallen, Switzerland.
Complementa is a recognized leader in the precise and independent consolidation of assets, performance measurement and investment controlling for institutional and large private investors. The firm provides services to asset managers, banks, pension funds, family offices, insurance companies, foundations and trustees primarily based in Switzerland and Germany.
The acquisition also includes wholly-owned subsidiary Allocare AG, a leading Swiss asset management software provider. (Complementa’s HedgeAnalytics business is excluded from the transaction.) Benjamin Brandenberger, founder and Chairman of Complementa, and Michael Brandenberger, CEO and President of Complementa will serve as board members (Verwaltungsrat) and be actively involved in the business. Andreas Joost, already a member of the Complementa managing board, will take over the CEO position and manage Complementa’s business. Complementa will be a wholly-owned subsidiary of State Street and will retain its name and identity.
“Today’s announcement enables Complementa to affiliate with a leading, global analytics organization,” commented Benjamin Brandenberger. “This transaction gives us access to State Street’s global capabilities and the potential to extend the current product suite offered to our clients for their global portfolios, all while maintaining the ability to provide our clients the high quality, precise service to which they are accustomed.”
“The acquisition of Complementa is further evidence of State Street’s full commitment to and investment in the Swiss market,” said Joe Antonellis, vice chairman of State Street. “Complementa is a premier provider of investment analytics to the Swiss market and has maintained this position consistently for more than 25 years. We look forward to bringing its precision in process to our clients globally.”
Antonellis continued “The business fits well alongside State Street’s current leading investment analytics business and provides us with further opportunity to expand our offering across Germany, the Netherlands, Italy and other European and global markets.”
State Street Investment Analytics currently serves approximately 1,400 clients with aggregate asset volumes exceeding $10 trillion (as of June 30, 2011), offering comprehensive services in performance, risk and strategic analysis that help clients monitor and measure the success of their investment strategies in any market and in any asset class, including alternative investments.
State Street opened its original office in Zurich in 1998 and has developed a comprehensive suite of valued-added investment services for its clients, including enhanced reporting, risk and transaction cost analysis, performance measurement and regulatory compliance customized to meet local requirements. In 2008, State Street acquired Deutsche Bank’s fund accounting operations in Switzerland, expanding its investment servicing capabilities for the local market. With the acquisition announced today, State Street now employs approximately 200 professionals in Switzerland.
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