AXA Investment Managers has extended its investment operations outsourcing mandate with State Street for an additional five years. State Street was first appointed by AXA IM in December 2004 to provide middle-office services, including transaction management, investment books and fund accounting, collateral management, performance measurement and reporting.
PRESS RELEASE
State Street Corporation (NYSE: STT) and AXA Investment Managers (AXA IM), announced today that AXA IM has extended its investment operations outsourcing mandate with State Street for an additional five years following nearly a decade of a successful partnership with State Street. State Street was first appointed by AXA IM in December 2004 to provide middle-office services, including transaction management, investment books and fund accounting, collateral management, performance measurement and reporting, across three countries for €300 billion in assets.
Since 2004, State Street and AXA IM have broadened their relationship and State Street now services more than 1200 AXA IM funds and mandates with approximately €500 billion assets. The relationship has also expanded globally and now includes servicing in ten different locations across Asia Pacific, Europe and the United States.
Christophe Coquema, chief operating officer of AXA Investment Managers said: “At AXA IM we constantly strive to ensure that excellent service and a focus on the needs of our clients remains at the forefront of everything we do. This contract extension is a reaffirmation of our confidence in State Street’s ability to support our growth plans worldwide, and recognition of the quality service they deliver to us and to our clients”.
Commenting on the partnership Raphael Remond, head of State Street in France said, “Asset managers face a challenging environment and are looking for growth through innovation. To support this they need flexible and agile infrastructures that enable them to quickly launch the new products and solutions that their investors require, increasingly on a global scale. These pressures are driving a new, closer relationship between asset managers and their servicing partners, and opening up a new frontier of outsourcing based on wide-ranging, innovative solutions.”
State Street is the leading provider of investment manager operations outsourcing services with more than $10 trillion in middle-office assets under administration as of September 30, 2013.
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 $26 trillion in assets under custody and administration and $2.2 trillion in assets under management* at September 30, 2013, State Street operates in more than 100 geographic markets worldwide, including the U.S., Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.
* This AUM includes the assets of the SPDR Gold Trust (approx. $39 billion as of September 30, 2013), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.
About AXA Investment Managers
AXA Investment Managers is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with approximately €536 billion in assets under management as of the end of September 2013. AXA IM employs over 2,400 people around the world and operates out of 22 countries. Visit our website: www.axa-im.com
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.