State Street Announces New Alliance with Virtus from FIS
April 20 2020 - 9:30AM
Business Wire
State Street Corporation (NYSE: STT) today announced it has
entered into an alliance with Virtus from FIS to provide
Collateralized Loan Obligation (CLO) and Collateralized Debt
Obligation (CDO) technology management solutions to clients in the
United States and Europe.
Through this alliance, State Street will leverage Virtus’
Business Process-as-a-Service solution to provide services jointly
to CLO and CDO clients. Virtus will provide collateral
administration services and State Street will provide trustee
services, registrar services, transfer agent services, paying agent
services, bank account services and custodian services.
“We are delighted to partner with Virtus on this exciting new
opportunity that we think will deliver enhanced solutions and
outcomes for our clients”, said Jen Tribush at State Street.
“Virtus from FIS is a leading end-to-end technology and solutions
provider which, when combined with our experience and established
track-record providing services throughout the front, middle and
back office, creates a compelling value proposition for clients in
this space.”
“We welcome State Street to our growing family of financial
institution partners as it takes the right steps to develop a
powerful financial tool that will serve its asset managers in the
U.S. and Europe,” said Martin Boyd, president of Capital Markets
Solutions at FIS.
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 $31.86 trillion in assets
under custody and/or administration and $2.69 trillion* in assets
under management as of March 31, 2020, 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 March 31, 2020 includes
approximately $50 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.
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our more than 55,000
people are dedicated to advancing the way the world pays, banks and
invests by applying our scale, deep expertise and data-driven
insights. We help our clients use technology in innovative ways to
solve business-critical challenges and deliver superior experiences
for their customers. Headquartered in Jacksonville, Florida, FIS is
a Fortune 500® company and is a member of Standard & Poor’s
500® Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
3048108.1.1.GBL.RTL
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200420005496/en/
Zarna Patel 617 756-2911 zpatel@statestreet.com
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024