State Street has brought together five of its middle office businesses into one unit, claiming it will increase scale for customers.
The five businesses, which all perform performance and analytics work, will unite into a single global team known as State Street Investment Analytics (SSIA), reporting to Boston-based senior vice president William Pryor. The five businesses are State Street Analytics, WM Performance Services, the universe and research services of Intersec, the trade cost analysis of Elkins McSherry and the alternative investment performance and analytics capabilities of Private Edge. All bar the first listed will continue as separate product names, but will be offered under the SSIA banner both singly and packaged together.
25/09/2007
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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