State Street Corporation has been appointed by Columbia Threadneedle Investments to provide expanded investment services for $431 billion in pooled fund assets, including exchange-traded funds, across the U.S. and Europe.
State Street Expands $431 Billion Investment Services Mandate with Columbia Threadneedle
The agreement is expected to see State Street deliver fund accounting, administration and custody services, deepening a relationship that dates back to the 1990s.
The firms have collaborated across multiple mandates, including support for Columbia Threadneedle’s acquisition of BMO Financial Group’s EMEA Asset Management business in 2021.
As part of the expanded mandate, more than 100 Columbia Threadneedle employees in the U.S. who currently provide fund accounting and administration will transfer to comparable roles at State Street. In Europe, Columbia Threadneedle will further consolidate services for its U.K. and Luxembourg-based pooled funds with State Street, including depositary and custody functions.
“We have enjoyed a successful decades-long relationship with Columbia Threadneedle and look forward to helping them continue their commitment to operational excellence and expanding our services to support the next phase of their growth,” said Joerg Ambrosius, president of Investment Services at State Street.
David Logan, Head of EMEA and Global Business Operations at Columbia Threadneedle, said: “We are delighted to expand our relationship with State Street as they support our growth agenda, providing valuable and scalable expertise, capabilities and resources.”
State Street said the deal underscores its ability to offer full-service solutions to leading global asset managers seeking operational scale and entry into new markets.
