State Street Corporation, K&L Gates LLP & the Fletcher School Form Alliance to Address Complexities & Opportunities for Sover...
January 11 2011 - 10:00AM
Business Wire
State Street Corporation (NYSE:STT), K&L Gates LLP and The
Fletcher School of Law and Diplomacy at Tufts University (The
Fletcher School), today announced a unique, collaborative
relationship to provide strategic insight, quantitative,
independent research and thought leadership focused on public
policy issues and investment challenges facing sovereign wealth
funds (SWFs), institutional investors, central banks, governments
and international organizations.
The collaboration combines the expertise and world-class
educational resources of the oldest graduate school of
international affairs in the United States with one of the world’s
leading providers of financial services to institutional investors
and the fastest-growing global law firm. It also builds upon the
momentum created by the Sovereign Wealth Fund Initiative, based at
the Center for Emerging Market Enterprises (CEME) at The Fletcher
School. State Street Corporation and K&L Gates are current
sponsors of research and thought leadership through the Sovereign
Wealth Fund Initiative.
The accumulation of resource wealth and export earnings by
emerging and commodity exporting economies has led to an
accelerated growth of sovereign wealth investment through a rapidly
growing number of sovereign wealth funds. With $3.8 trillion in
assets under management in 2009 and projections of growth to $5.5
trillion by 20121, sovereign wealth funds have emerged as important
players in today’s dynamic global capital markets. The shift in
global capital flow to sovereign investors presents both
opportunities and challenges that demand an independent forum with
access to world class resources that provide insight and critical
thinking on topics ranging from resource nationalism and global
capital markets to matters of socio-political risk, transparency
and governance.
In 2011, the joint initiative will deliver a series of bilateral
webinars for select managers and executives, as well as thought
pieces, research, and focused executive education programs. The
collaboration was launched on January 11, 2011 at State Street’s
Middle East client conference taking place in Dubai, United Arab
Emirates. Daniel Drezner, professor of international politics at
The Fletcher School, author and contributing editor to Foreign
Policy magazine, is a keynote speaker for the two-day event.
“Sovereign wealth funds continue to play an important role in
the global financial landscape,” said Joseph Antonellis, vice
chairman of State Street Corporation. “This collaboration will help
bring our quantitative research insights and innovative portfolio
and risk management tools to an even broader academic audience to
offer unique insights into this important market segment.”
"The increasing size and visibility of sovereign wealth funds
and other long-term cross-border investors have triggered
heightened scrutiny on the part of recipient countries," according
to Thomas F. Holt, Jr., a partner in K&L Gates' Boston office
and adjunct professor of law at The Fletcher School of Law &
Diplomacy. "K&L Gates' collaboration with The Fletcher School
and State Street will provide sovereign wealth funds with guidance
as to how they might best succeed within a variety of complex legal
and regulatory regimes."
"Sovereign wealth funds require sound leadership who understand
the intricate socio-political environments of emerging markets as
they diversify their investments by asset class and geography,”
said Dr. Eliot Kalter, senior fellow at The Fletcher School’s
Center for Emerging Market Enterprises. “Our collaboration with
State Street and K&L Gates will provide both a sounding board
of resources from numerous fields of expertise and a best-practices
approach that SWF managers and executives require to navigate the
complexities of an ever-changing global financial environment.”
About State Street
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment management, investment research and trading
and investment servicing. With $20.2 trillion in assets under
custody and administration and $1.9 trillion in assets under
management at September 30, 2010, State Street operates in 25
countries and more than 100 geographic markets worldwide. For more
information, visit State Street’s website at
www.statestreet.com.
About K&L Gates LLP
K&L Gates delivers legal services on an integrated and
global basis, with nearly 2,000 lawyers located in 36 cities in
North America, Europe, Asia and the Middle East, and represents
numerous GLOBAL 500, FORTUNE 100, and FTSE 100 corporations, in
addition to growth and middle market companies, entrepreneurs,
capital market participants and public sector entities. For more
information, visit www.klgates.com.
About The Fletcher School at Tufts University & The
Center for Emerging Market Enterprises
Since 1933, The Fletcher School has been committed to preparing
the world’s leaders by providing a uniquely global perspective of
international relations. The Fletcher School’s ability to advance
world knowledge through research and scholarship has helped to
shape the careers of myriad prominent figures, including prime
ministers, thousands of ambassadors, CEOs of global corporations,
thought leaders, and politicians. Today, Fletcher alumni hold many
top offices in government, business, and nongovernmental
organizations across the globe.
The Center for Emerging Market Enterprises (CEME) at The
Fletcher School, Tufts University is a hub of emerging thinking for
emerging markets. Conceived for research, study, and networking
dedicated exclusively for companies and institutions operating in
dynamic and volatile emerging and frontier markets, CEME develops
and provides research, consulting, training, and a forum to share
best practices.
1 According to International Financial Services London
estimates
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