Charles River Development, a State Street Company, today announced that its strategic cloud solution, Charles River Investment Management Solution (Charles River IMS), has achieved platform and operational readiness on Microsoft Azure. The offering utilizes Microsoft’s scale and security capabilities to provide investment firms with a platform that enables innovation and helps clients mitigate risk. Charles River has initiated the migration of new and existing SaaS (Software as a Service) clients onto the new Azure infrastructure.

“In today’s environment of unprecedented market volatility, margin pressures, and increased competition, cloud-based solutions offer the resilience, scalability, and performance that investment firms need as a foundation for innovation and growth,” said Spiros Giannaros, President of Charles River. “Microsoft Azure will provide additional capabilities to service our customers and new opportunities to integrate in our customers’ cloud solutions. This is central to our strategy to provide global scale as an enterprise investment management solution provider.”

“When we originally announced we would be using Microsoft Azure in 2019, we knew Charles River was setting a new industry standard for a cloud-based investment management solution that is both secure and highly performant,” said Kishore Kottapalli, global head of Cloud Strategy and Engineering at Charles River. “Microsoft’s investment in security and operational infrastructure enables our offering to meet the stringent security policies and standards that is expected by our clients and required by State Street as a GSIFI (Global Systemically Important Financial Institution).”

Charles River IMS serves as the front and middle office component of State Street Alpha℠, which provides investment managers, hedge funds, asset owners and insurers with a complete front to back solution for risk management, portfolio construction, trading, compliance, post-trade and back office services.

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 State Street Alpha℠. 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.

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Media Contact Mary Masi-Phelps marymasiphelps@crd.com 781-425-6155

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