State Street has been appointed to provide a range of custody, accounting and fund administration services to Columbia Management’s Excelsior Funds, which have approximately US$20 billion in assets.
“We are pleased to extend our relationship with State Street,” says Christopher Wilson, head of mutual funds, Columbia Management. “It has consistently proven it can keep pace with our growth, quickly integrate additional products and offer us additional services.”
With the new mandate, State Street now services a total of approximately $320 billion in assets for funds sponsored by Columbia Management, Bank of America’s asset management arm.
The new win expands upon State Street’s long-standing relationship with the firm. In 2005, Columbia Management chose State Street to provide fund administrative services for $224 billion in assets.
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