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State Street Corporation (NYSE: STT) announced today that it has been appointed by Columbia Threadneedle Investments, the global asset management group of Ameriprise Financial, Inc., to provide expanded fund accounting, administration and custody services for Columbia Threadneedle's pooled funds, including ETFs, in the US and Europe with $431 billion in assets 1 .
"We have enjoyed a successful decades-long relationship with Columbia Threadneedle and look forward to helping them continue their commitment to operational excellence and expanding our services to support the next phase of their growth," said Joerg Ambrosius, president of Investment Services at State Street. "As leading asset managers look to build scale and expand into new markets, we are well-positioned to provide them with full-service solutions."
State Street has provided back-office services to various legacy Columbia Threadneedle mutual funds going back to the 1990s, as well as servicing back and middle office business from Columbia Threadneedle's acquisition of BMO Financial Group's EMEA Asset Management business in 2021. As part of this mandate, more than 100 Columbia Threadneedle employees, who provide fund accounting and administration services to Columbia Threadneedle's US pooled funds are expected to transfer to comparable roles at State Street. In Europe, Columbia Threadneedle will further consolidate fund accounting, administration, depositary and custody services for its UK and Luxembourg-based pooled funds with State Street, building on an existing and long-standing relationship between the firms.
"We are delighted to expand our relationship with State Street as they support our growth agenda, providing valuable and scalable expertise, capabilities and resources," said David Logan, Head of EMEA and Global Business Operations at Columbia Threadneedle. "Our partnership will provide continuity of services to our clients and support our continued focus on client service excellence."
About State Street Corporation
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 $49.0 trillion in assets under custody and/or administration and $5.1 trillion* in assets under management as of June 30, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 52,000 worldwide. For more information, visit State Street's website at www.statestreet.com .
| *Assets under management as of June 30, 2025 includes approximately $116 billion of assets with respect to SPDR ® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated 8339982.1.1.GBL.RTL Copyright © 2025 State Street Corporation |
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our appointment by Columbia Threadneedle Investments to provide expanded fund accounting, administration and custody services for Columbia Threadneedle's pooled funds, including ETFs in the US and Europe with $431 billion in assets, as well as regarding our business, strategy, growth and sales prospects, the financial and market outlook and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as "will," "expect," "intend," "aim," "outcome," "future," "strategy," "objective," "plan," "believe," "anticipate," "seek," "may," "trend," and "goal," or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements. Important factors that could cause actual results to differ materially from those indicated by any forward-looking statements include factors set forth in our 2024 Annual Report on Form 10-K, our subsequent SEC filings and our news release and slide presentation accompanying our second quarter 2025 earnings announcement in which the servicing mandate referenced in this news release is included. We encourage investors to read these materials, particularly the sections on risk factors and the endnotes, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this news release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this news release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.
1 As of June 30, 2025
View source version on businesswire.com: https://www.businesswire.com/news/home/20250829588994/en/
Media Contact:
Brendan Paul
Bpaul2@statestreet.com
+1 401 644 9182
