Triple A Awards Cite Performance Amid Market Turbulence
HONG KONG--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT), one of the world's leading
providers of financial services to institutional investors, announced
today that it was named Transition Manager of the Year in The Asset
magazine's 2010 Asset Asian Awards (Triple A).
The Asset magazine's Triple A awards recognize institutions and
individuals who make significant contributions to the development of the
financial industry in Asia. State Street was recognized for helping
clients across the Asia-Pacific region to minimize costs and mitigate
risk in transition management, especially during the volatile market
conditions experienced in 2009. The Triple A awards were presented on 25
March at a dinner ceremony in Hong Kong.
State Street is a global leader in transition management. In
Asia-Pacific, it has local transition management teams in Sydney, Tokyo,
Singapore and Hong Kong.
"This award reflects State Street's commitment to leveraging its global
expertise to provide unique solutions for clients across local markets,"
said Peter O'Neill, executive vice president and head of State Street's
Global Markets and Global Services businesses in Asia-Pacific.
"Transition management needs vary widely across markets in the region,
and we have built our team and products to be 100 percent focused on
each client's unique specifications."
Globally, State Street has managed more than 3,400 transitions over the
past five years for plan sponsors across all asset classes.
"State Street has provided transition management services since 1979 and
in the Asia-Pacific region since 1998," said Justin Balogh, senior
managing director of State Street Global Markets in Asia-Pacific. "The
longevity and steady growth of our business reflect our ability to bring
the key value propositions of portfolio-advisory research and
transition-management execution to the localized needs of investors
worldwide."
The Asset cited State Street's performance in transition
management during the market turbulence. "State Street was able to
provide optimized trading solutions to its clients even in this highly
volatile market."
"By tapping into advances in technology and infrastructure, State Street
consistently delivered an efficient process where execution risk and
information leakage were minimized," the magazine added.
About State Street Global Markets
State Street Global Markets provides specialized research, trading,
securities lending and innovative portfolio strategies to owners and
managers of institutional assets. Its goal is to enhance and preserve
portfolio values through original flow-based research, proprietary
portfolio and risk management technologies, trading optimization and
global connectivity. From its unique position at the crossroads of the
global markets, it provides diverse liquidity and crossing that
facilitate cost-effective solutions.
State Street Global Markets' research team of leading academic and
industry experts is committed to continually advancing the science,
including theory and application of its proprietary investor behavior
research and innovative portfolio and risk management technologies, to
help its customers challenge conventional thinking, shape ideas, make
more informed investment decisions and deliver measurable results.
About State Street
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 $18.8 trillion in assets under custody and administration
and $1.9 trillion in assets under management at December 31, 2009, State
Street operates in 25 countries and more than 100 geographic markets
worldwide. For more information, visit State Street at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
John Larkin, + 852 2840 5355
State Street, Global Marketing, Asia
john.g.larkin@statestreet.com