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State Street to Explore Options for Asset Management Arm

  • Firm working with adviser to explore mergers for division
  • State Street has weighed deals with rivals like Invesco, UBS
Updated on

State Street Corp. is exploring options for its asset management business, including a merger with a competitor, as it seeks to gain scale, people familiar with the matter said.

The Boston-based firm has been informally working with an adviser to review strategic alternatives for the unit, known as State Street Global Advisors, according to the people. It has evaluated potential combinations with the asset management operations of rivals including Invesco Ltd. and UBS Group AG, the people said, asking not to be identified because the information is private.