State Street Wins Outsourcing Provider of the Year Award from Custody Risk
BOSTON -- May 29, 2012
State Street Corporation (NYSE: STT), one of the world's leading providers of
financial services to institutional investors, announced today that it has won
Custody Risk magazine’s 2012 Outsourcing Provider of the Year award for the
second consecutive year.
The Custody Risk Americas Awards recognize outstanding achievers in the
securities services industry in both North and South America. The selection
criteria included an evaluation of client wins and renewals, outsourcing
services provided and innovations in services, cost control initiatives, and
factors that differentiated the company from its competitors.
“We are honored to once again be recognized by Custody Risk as Outsourcing
Provider of the Year,” said Jeff Conway, executive vice president and head of
State Street’s Investment Manager Services business. “In today’s market
environment, increasing product and operational complexity, new regulations,
falling profitability and a need to focus on core competencies are driving
asset managers’ need for outsourcing. Recent research by State Street
underscores asset managers’ concerns about their ability to bring products to
market quickly and deliver on increased client and regulatory reporting needs.
To address the increased complexity arising from regulation and globalization,
they are seeking closer partnerships with service providers, and State Street
helps clients focus on their core business strategies by providing a
comprehensive suite of outsourcing services backed by advanced technology.”
State Street provides outsourcing services for more than $8 trillion in
assets^1 including transaction management, investment recordkeeping,
reconciliation, corporate action processing, data management, performance
measurement, client reporting, OTC derivatives processing, collateral
management and valuation. Some of the new solutions launched in the last year
include a Collateral Tracking service and the State Street SpringboardSM
mobile app. The Collateral Tracking service helps asset managers and owners
accurately assess and manage counterparty risk through up-to-date reporting of
all collateral movements. The State Street Springboard mobile application for
the iPad allows clients to view essential portfolio information and leverages
content and information from my.statestreet.com, State Street’s online
information delivery platform.
“As asset managers seek fresh strategies and redefine their operational
framework, product position and growth potential, new relationships are being
forged between investors and service providers,” said Conway. “State Street is
committed to continually evolving and helping our clients navigate the
changing market environment as not as a product provider but as a solutions
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers
of financial services to institutional investors including investment
servicing, investment management and investment research and trading. With
$23.2 trillion in assets under custody and administration and $2 trillion* in
assets under management at March 31, 2012, State Street operates in 29
countries and more than 100 geographic markets. For more information, visit
State Street’s web site at www.statestreet.com.
* This AUM includes the assets of the SPDR Gold Trust (approx. $68 billion as
of March 31, 2012), for which State Street Global Markets, LLC, an affiliate
of State Street Global Advisors, serves as the marketing agent.
^1 As of March 13, 2012
State Street Corporation
Arlene Roberts, +1-617-664-3933
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