About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

State Street to Provide Multi-Domicile Investment Manager Operations Outsourcing for the F&C Group

Subscribe to our newsletter

State Street Corporation, one of the world’s leading providers of financial services to institutional investors, announced today that it has been appointed by F&C Asset Management (F&C) to provide investment manager operations outsourcing for some £106 billion in assets.

State Street will provide F&C, and its subsidiary Thames River Capital with services for their global operations which includes investment operations, custody, fund accounting, trustee, securities lending and transfer agency – the latter provided through IFDS, State Street’s joint venture with DST systems.   As a result of this mandate, 102 employees will transition to State Street from F&C in London and Edinburgh.

“We are delighted to have agreed a partnership with State Street to ensure that F&C remains well-positioned to deliver best-in-class investment operations and technology solutions to our investment teams and our clients,” said Alain Grisay, Chief Executive of F&C. “This agreement will improve operational efficiency and is a major step forward in introducing long term flexibility in our cost base which will benefit both our clients and shareholders.”

”State Street is a recognised global leader in investment manager operations outsourcing and we are confident that our organisation and our clients will benefit from our leading technology systems, depth of resources and commitment to excellence in client service,” said Joe Antonellis, Vice Chairman of State Street. “As one of the first providers to offer investment manager operations outsourcing services, State Street has a decade of experience in servicing some of the most complex and global clients.”

“In the period of rapid expansion within the global markets over the past decade, many investment managers’ legacy technology systems need significant investment to keep pace with the servicing requirements of innovative new investment strategies.  We are delighted that F&C have chosen State Street to support their requirements.”

As a market leader, State Street provides services for more than $7.1 trillion in middle office assets to clients globally.  Its investment manager operations outsourcing solution covers all aspects of the trading cycle. Trade matching and settlement through performance and client reporting functions are easily integrated into State Street’s full spectrum of accounting, custody and fund administration services. These services help investment managers convert substantial fixed operating costs to a variable cost model, eliminating manual processes and ensuring data integrity.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Market Abuse Regulation: How to Detect and Analyse Abusive Market Transactions

Date: 28 March 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Market abuse is a potential problem for many financial institutions. It typically covers insider dealing, unlawful disclosure of inside information, and market manipulation, and is often difficult to detect and report in line with regulations such as Market Abuse...

BLOG

Exchange Data International Releases Readable Corporate Action Notices

Exchange Data International (EDI) has released Readable Corporate Action Notices (RCAN), a solution designed to enable personnel in front- and middle-office buy-side firms to read corporate action notices in the same way as they read news. RCAN is based on machine learning and was developed by EDI. It covers 45 corporate events, including dividends, mergers...

EVENT

Data Management Summit London

Now in its 13th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...