CHARLOTTE, N.C., July 1, 2022
/PRNewswire/ -- Allspring Global Investments™ (Allspring), a
leading independent asset manager with more than $541 billion in assets under management*, today
announced that it has entered into an agreement with State Street
Corporation (NYSE: STT), under which Allspring will adopt
State Street Alpha™ for Allspring's middle-office operations as
well as expand its relationship with Charles River Development.
Allspring's transition will be a phased rollout targeted for
completion by the end of 2023.
Joe Sullivan, Executive Chair and
CEO at Allspring, shared: "Today's agreement with State Street is
another critical step forward in Allspring's transformational
journey as an independent global asset manager committed to
delivering superior service to its clients. This important
partnership will enable Allspring to focus even more on managing
our clients' assets and further strengthen the firm's ability to
meet their evolving needs, including by leveraging State Street's
highly regarded Alpha platform suite of investment technology."
By leveraging the Alpha platform, Allspring can achieve process
modernization and broader capabilities to enhance the investment
experience for clients.
State Street Alpha is a fully integrated front-to-back
technology 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.
"The State Street Alpha platform is ideally suited to provide
Allspring with critical technology and operations infrastructure
from the front office to the back office with advanced data
management services," said John
Plansky, head of State Street Alpha. "We look forward to
being an essential partner for Allspring and helping them execute
their strategy as a leading independent firm."
About Allspring Global
Investments
Allspring Global Investments™ is an independent asset management
company with more than $541 billion
in assets under management*, offices around the world, and
investment teams supported by 450 investment professionals.
Allspring is committed to thoughtful investing, purposeful
planning, and inspiring a new era of investing that pursues both
financial returns and positive outcomes. To learn more about
Allspring and our mission to elevate investing, please visit
www.allspringglobal.com.
Allspring Global Investments™ is the trade name for the asset
management companies of Allspring Global Investments Holdings, LLC,
a holding company indirectly owned by certain private funds of GTCR
LLC and Reverence Capital Partners, L.P. These companies include
but are not limited to Allspring Global Investments, LLC, and
Allspring Funds Management, LLC. Certain products managed by
Allspring entities are distributed by Allspring Funds Distributor,
LLC (a broker-dealer and Member FINRA/SIPC). Associated with
Allspring is Galliard Capital Management, LLC (an investment
advisor that is not part of the Allspring trade name/GIPS
company).
*As of March 31, 2022, AUM
includes $91 billion from Galliard
Capital Management, an investment advisor that is not part of the
Allspring trade name/GIPS company.
PAR-0622-00381
© 2022 Allspring Global Investments Holdings, LLC. All rights
reserved.
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SOURCE Allspring Global Investments