State Street Corporation (NYSE: STT) announced today that it has been appointed by Columbia Threadneedle Investments, Global Asset Management Group by Ameriprise Financial, Inc.
“We have enjoyed a successful decades -long relationship with Columbia Threadneedle and are looking forward to helping them continue their commitment to business excellence and expand our services to support the next phase of their development,” Joerg Ambrosius, president of Investment Services, told State State. “As top assets are looking for building and expanding new markets. We are well positioned to provide them with full service solutions.”
State Street has provided back-Office services to various Columbia Threadneedle Mutual Funds in the 1990s, as well as the service of Columbia Threadneedle’s rear and medium-sized business from Columbia’s acquisition of Columbia Threadneedle by 2021.
In the context of this command, more than 100 Columbia Threadneedle employees, who provide accounting and capital management services to Columbia Threadneedle’s centralized funds, are expected to be transferred to comparable roles on State Street.
In Europe, Columbia Threadneedle will further integrate accounting, administration, management, guardians and custody services and services in the United Kingdom and Luxembourg with State Street, based on an existing and long -term relationship between businesses.
“We are pleased to extend our relationship with State Street, as they support our growth agenda, providing valuable and extensive expertise, capabilities and resources,” said David Logan, head of EMEA and world business businesses at Columbia Threadneedle. “Our cooperation will continue the services to our customers and support our continued focus on customer excellence.”