Key Private Bank Selects Charles River Wealth Management Solution
February 27 2020 - 9:30AM
Business Wire
Charles River Development, a State Street Company (NYSE:STT),
today announced that Key Private Bank, the wealth management
division of KeyCorp (NYSE:KEY), selected the Charles River Wealth
Management Solution to expand its investment product offering. The
fully managed solution provides Key Private Bank with portfolio
management, trading, and compliance across its equities, options,
and fixed income products. Key Private Bank also leverages Charles
River’s mobile solution for advisors, Charles River Anywhere.
“Adopting Charles River creates significant opportunities for
Key Private Bank to scale our value-added investment solutions to
our clients,” said Joe Calabrese, National Head of Investment,
Fiduciary and Banking Services at Key Private Bank. “This signals a
new chapter in the evolution of our business, and we are excited
that we can better serve our clients by trading in all security
types while reducing risk and improving efficiency across our
investment functions.”
“For firms like Key Private Bank, centralizing portfolio
management and trading operations sets the stage for
transformational growth,” said Randy Bullard, Global Head of
Wealth, Charles River. “An enterprise, scalable platform that
supports the needs of wealth managers is essential in today’s
competitive marketplace.”
About Key Private Bank
Key Private Bank is a leading provider of wealth management
solutions and advice for high-net worth and ultra-high-net worth
clients, including wealth advisory, investment management, trust
administration, customized credit, family office and private
banking services. Key's wealth management platform combines the
market insights of local advisors with a national team of wealth
and investment strategists to deliver proactive and personalized
advice and expertise to clients. Advisors also leverage
partnerships with Key's business banking and capital markets teams
to build wealth plans tailored to meet each client's specific need.
Key Private Bank's wealth management platform is delivered across
15 of the United States. Key Private Bank has $40.8 billion in AUM
and $43.0 billion in AUA at December 31, 2019.
About Charles River, a State Street Company
Investment firms, asset owners, wealth managers, hedge funds and
insurers in over 30 countries rely on the Charles River Investment
Management Solution (Charles River IMS) to manage US$28 Trillion.
Together with State Street’s middle and back office services,
Charles River technology forms the foundation of the State Street
Alpha℠ platform. Charles River IMS helps firms automate and
simplify their investment process across asset classes, from
portfolio management and risk analytics through trading and
post-trade settlement, with integrated compliance and managed data
throughout. Charles River’s growing third-party provider ecosystem
enables clients to seamlessly access the data and analytics,
applications and liquidity venues that support the unique demands
of their product and asset class mix. Headquartered in Burlington,
Massachusetts, we serve clients globally with more than 1,000
employees in 11 regional offices. For more information, please
visit www.crd.com. (Statistics as of January 2020)
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $34.36 trillion in assets under custody and
administration and $3.12 trillion* in assets under management as of
December 31, 2019, State Street operates globally in more than 100
geographic markets and employs approximately 39,000 worldwide. For
more information, visit State Street's website at
www.statestreet.com.
*Assets under management as of December 31, 2019 includes
approximately $45 billion of assets with respect to which State
Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as
marketing agent; SSGA FD and State Street Global Advisors are
affiliated.
© 2020 State Street Corporation - All Rights Reserved
2968907.1.1.GBL.
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version on businesswire.com: https://www.businesswire.com/news/home/20200227005563/en/
Mary Masi-Phelps marymasiphelps@crd.com 781-425-6155
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