Invesco to Transition Front-to-Back Investment Servicing to State Street Alpha℠ Platform
April 16 2021 - 7:47AM
Business Wire
State Street Corporation (NYSE: STT) today announced that it has
entered into an agreement with Invesco Ltd. (NYSE: IVZ) which will
result in Invesco adopting State Street Alpha℠, the first
front-to-back asset servicing platform from a single provider for
institutional and wealth management firms. The migration to Alpha
is intended to simplify Invesco’s investment infrastructure to
improve scale, reduce risk and improve operating efficiency.
State Street Alpha is a fully integrated front-to-back platform
that combines proven industry leading components including Charles
River Development, Alpha Data Platform, Middle Office processing,
and a comprehensive set of data and back office services. With
built-in flexibility and scalability, Alpha lets clients manage all
public assets across global markets and streamline their day-to-day
processes — helping to facilitate innovation, better inform
investment decisions, optimize returns and streamline business
operations.
“The State Street Alpha℠ platform will support Invesco with
next-gen technology that provides both the data and flexibility
needed to operate globally,” said Donna Milrod, head of State
Street’s Global Asset Manager Segment and Global Clients Division.
“We look forward to partnering with Invesco as they strive to
create a global operating model that will standardize Invesco’s
global investment processes for traditional asset classes.”
Partnering with State Street will also allow Invesco to further
increase the effectiveness of its investment platform, leading to
greater data insights and real-time information that will aim to
enhance the overall investment experience for clients. The Alpha
platform will help create a unified global operating model for
Invesco to standardize and streamline investment operations.
“As markets quickly evolve, delivering real-time data and
intelligence to investment managers is more important than ever,”
said John Plansky, head of State Street Alpha. “By leveraging
Charles River Development and State Street Alpha’s open
infrastructure, Invesco will improve data integration among
multiple systems and databases to more easily and efficiently gain
actionable insights from front office to back.”
The integration will begin in Q2 2021 with a phased roll-out
targeted to complete in late 2024.
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 $38.8 trillion in assets
under custody and/or administration and $3.5 trillion* in assets
under management as of December 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 December 31, 2020 includes
approximately $75 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2021 State Street Corporation - All Rights Reserved
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Brendan Paul Bpaul2@statestreet.com +1 401 644 9182
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