State Street Appoints Andrew Allright to CEO of InfraHedge
August 06 2018 - 11:05AM
Business Wire
Managed Accounts Business Also Awarded the 2018 Porter Prize by
Harvard Business School’s Institute for Strategy and
Competitiveness
State Street Corporation (NYSE: STT) today announced the
appointment of Andrew Allright as CEO of InfraHedge, the firm’s
dedicated managed account business. Allright has been with
InfraHedge since it launched in 2011, and has played a key role in
growing the business to become the global leader in servicing
managed accounts. With more than $30 billion of client assets,
InfraHedge designs, builds and operates dedicated, customized
platforms for institutional investors to effectively manage their
third-party investment programs.
“The InfraHedge business has shown tremendous growth over the
last few years,” said George Sullivan, global head of State
Street’s Alternative Investment Solutions business. “I look forward
to Andrew and his team driving it through the next stage of its
development by taking advantage of the attractive market
environment. Managed accounts are increasingly becoming the
preferred choice for institutional investors, and we have great
confidence in the attractiveness of our platform business which has
been designed since inception to focus entirely on the needs of
investors in order to help generate the best possible
outcomes.”
Allright will continue to lead a longstanding team comprising
Ravi Raman, chief operating officer, as well as new hires including
Robert Vanderpool, president of InfraHedge North America, and Lizzy
Buss, head of EMEA and APAC business development.
InfraHedge was also recently awarded the 2018 Porter Prize, in
the category “Platforms, Smart Connected Products and Solutions”,
by the Institute for Strategy and Competitiveness at Harvard
Business School. It is the first time an organization
associated with the hedge fund industry has won this prize.
The award recognized InfraHedge for:
- Expanding opportunities for new
functionality, greater reliability, higher product
utilization;
- Offering capabilities that cut across
and transcend traditional product boundaries; and
- Building capabilities within
enterprises to rethink and retool nearly everything they do
internally.
“We are thrilled that InfraHedge has been honored with a Porter
Prize,” said Allright. “We have built a diverse and
experienced team who are focused on meeting and exceeding the
expectations of our clients, and we are committed to continuing to
help move the industry forward.”
The Porter Prize, named after Harvard Business School Professor
and leading management thinker Michael E. Porter, is awarded to
companies for their strategic acumen across several parameters.
Porter Prizes were awarded to ten companies in eight different
categories following applications from more than 250
firms. Click here for full details.
To learn more about InfraHedge, click here.
About State Street Corporation
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 $33.90 trillion in assets
under custody and administration and $2.70 trillion* in assets
under management as of June 30, 2018, State Street operates in more
than 100 geographic markets worldwide, including the US, Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s website at www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33
billion as of June 30, 2018), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
2091676.1.1.GBL.PR
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
The information contained in this communication is not a
research recommendation or ‘investment research’ and is classified
as a ‘Marketing Communication’ in accordance with the Markets in
Financial Instruments Directive (2014/65/EU) or applicable Swiss
regulation. This means that this marketing communication (a) has
not been prepared in accordance with legal requirements designed to
promote the independence of investment research (b) is not subject
to any prohibition on dealing ahead of the dissemination of
investment research.
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State Street CorporationKerri Doherty, +1
617-664-1898KCDoherty@StateStreet.com@StateStreet
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