State Street is acquiring Investors Financial Services in a stock deal worth US$4.5 billion.
“Investors Financial Services Corporation and State Street already share a similar focus, service model and customer type,” says Ronald E. Logue, chairman and CEO of State Street, “which makes for a seamless and swift consolidation.”
Boston-based Investors Financial provides customers with a range of investment services including mutual fund, offshore and hedge fund servicing, custody, securities finance, cash management, foreign exchange and transition management for $2.2 trillion in assets.
Once the transaction is closed—which is expected by the third quarter—State Street will have more than $14 trillion in assets under custody including $3.5 trillion in mutual fund assets under administration.
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