State Street Named Top Transition Manager in the Asia-Pacific Region
April 12 2010 - 9:30AM
Business Wire
State Street Corporation (NYSE:STT), one of the world’s leading
providers of financial services to institutional investors,
announced today that it was named Transition Manager of the Year in
The Asset magazine’s 2010 Asset Asian Awards (Triple A).
The Asset magazine’s Triple A awards recognize institutions and
individuals who make significant contributions to the development
of the financial industry in Asia. State Street was recognized for
helping clients across the Asia-Pacific region to minimize costs
and mitigate risk in transition management, especially during the
volatile market conditions experienced in 2009. The Triple A awards
were presented on 25 March at a dinner ceremony in Hong Kong.
State Street is a global leader in transition management. In
Asia-Pacific, it has local transition management teams in Sydney,
Tokyo, Singapore and Hong Kong.
“This award reflects State Street’s commitment to leveraging its
global expertise to provide unique solutions for clients across
local markets,” said Peter O’Neill, executive vice president and
head of State Street’s Global Markets and Global Services
businesses in Asia-Pacific. “Transition management needs vary
widely across markets in the region, and we have built our team and
products to be 100 percent focused on each client’s unique
specifications.”
Globally, State Street has managed more than 3,400 transitions
over the past five years for plan sponsors across all asset
classes.
“State Street has provided transition management services since
1979 and in the Asia-Pacific region since 1998,” said Justin
Balogh, senior managing director of State Street Global Markets in
Asia-Pacific. “The longevity and steady growth of our business
reflect our ability to bring the key value propositions of
portfolio-advisory research and transition-management execution to
the localized needs of investors worldwide.”
The Asset cited State Street’s performance in transition
management during the market turbulence. “State Street was able to
provide optimized trading solutions to its clients even in this
highly volatile market.”
“By tapping into advances in technology and infrastructure,
State Street consistently delivered an efficient process where
execution risk and information leakage were minimized,” the
magazine added.
About State Street Global Markets
State Street Global Markets provides specialized research,
trading, securities lending and innovative portfolio strategies to
owners and managers of institutional assets. Its goal is to enhance
and preserve portfolio values through original flow-based research,
proprietary portfolio and risk management technologies, trading
optimization and global connectivity. From its unique position at
the crossroads of the global markets, it provides diverse liquidity
and crossing that facilitate cost-effective solutions.
State Street Global Markets’ research team of leading academic
and industry experts is committed to continually advancing the
science, including theory and application of its proprietary
investor behavior research and innovative portfolio and risk
management technologies, to help its customers challenge
conventional thinking, shape ideas, make more informed investment
decisions and deliver measurable results.
About State Street
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management, and
investment research and trading. With $18.8 trillion in assets
under custody and administration and $1.9 trillion in assets under
management at December 31, 2009, State Street operates in 25
countries and more than 100 geographic markets worldwide. For more
information, visit State Street at www.statestreet.com.
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