State Street Further Expands Relationship With Investment Firm
BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors, announced
today that it has further expanded its relationship with Illinois-based
Calamos Investments (NASDAQ: CLMS). State Street will provide custody,
fund administration and securities lending services to Calamos'
collective fund structures including Open and Closed End Mutual Funds,
Dublin UCITS and private funds exceeding $21 billion in assets. With
this consolidation, State Street now provides full back-office services
for all of Calamos' collective fund structures.
"By further consolidating our operations with State Street, it provided
us with a seamless model which has resulted in additional efficiencies
in our processes, enabling us to better serve our clients," said Nimish
Bhatt, senior vice president of Calamos Advisors LLC and CFO of Calamos
Funds. "State Street understands our complex investments and associated
accounting requirements. The consistency and expertise of its fund
accounting and fund administration teams also ensure continuity of
service quality for our funds."
"We have enjoyed our partnership with Calamos during the past five years
and appreciate the value it sees in expanding our relationship to
include additional services," said Alan Greene, executive vice president
of State Street. "Growing our market share within the US mutual fund
arena will help ensure we stay ahead of the changes in the industry and
develop solutions for our customers."
State Street is the leading provider of fund accounting in the United
States, servicing more than 40 percent of the mutual fund industry, and
is the largest contributor of mutual fund NAV's to NASDAQ.
Barrington Partners, based in Boston, Mass., assisted Calamos in the due
diligence and selection process.
Calamos Investments has more than $30.5 billion in assets under
management and provides investment advisory services to institutions and
individuals seeking superior risk-adjusted returns over the long term.
With roots dating back to 1977, the company applies its proprietary
investment process across an expanding range of investment strategies
within the equity, global/international, balanced, high yield,
convertible and alternative investment classes. Calamos Investments is
listed on the Nasdaq Stock Market and trades under the symbol "CLMS."
For more information, please visit http://www.calamos.com.
State Street Corporation (NYSE: STT) is one of the world's leading
providers of financial services to institutional investors including
investment servicing, investment management and investment research and
trading. With $17.9 trillion in assets under custody and administration
and $1.7 trillion in assets under management at September 30, 2009,
State Street operates in 27 countries and more than 100 geographic
markets worldwide. For more information, visit State Street's website at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
Carolyn Cichon, 617-664-8672