State Street Is Building a Business to Provide Outsourced Trading
- New revenue streams needed to offset falling industry fees
- Bank’s purchase of Charles River seen helping with effort
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State Street Corp. wants to lend a hand to the growing number of money managers seeking to outsource some of their trading operations.
The bank is developing a business to handle trades for investment managers, according to Nadine Chakar, head of global markets at State Street. The bank is negotiating with possible clients and aims to start offering the service in the first half of next year, she said.