LONDON – State Street Corporation (NYSE: STT) has extended its relationship with Investec Asset Management for another seven years to provide full middle office and fund accounting services across the UK, South Africa, Luxembourg and the United States.
Investec Asset Management is a specialist investment manager providing investment products and services to institutions, advisory clients and individuals. Their clients include pension funds, central banks, sovereign wealth funds, insurers, foundations, financial advisers and individual investors.
Kim McFarland, chief operating officer of Investec Asset Management, said: “State Street has always worked with us as a partner and understands the constant evolving needs of our business and the industry. We were keen to continue our relationship to ensure State Street’s excellent support.”
John Campbell, head of Global Services for UK, Middle East and Africa at State Street said, “We are very proud to have been able to support Investec Asset Management during their phenomenal growth over the past ten years and are delighted that they have chosen to continue our successful partnership.”
“There is a new battleground for today’s asset managers,” continued Campbell. “Our recent research1 revealed that more than three quarters of asset managers are embarking on a fundamental shift in their business strategy in response to changing client demands.”
1State Street commissioned FT Remark to conduct a global survey of 300 senior executives at asset management firms from April – May. Respondents were equally distributed across North America, Europe and Asia Pacific and managed at least $5 billion in retail and/or institutional client assets. To view the full report, click here.