State Street has announced it has been retained by PIMCO to provide investment services.
Over the last decade, the investment services provider has expanded from custody, accounting and valuation services to also assume PIMCO's Newport Beach, California operations for trade processing, custody, accounting, collateral management, pricing, derivatives processing and IT development.
Jeff Conway, executive vice president and global head of State Street’s investment manager services business, said, “When we assumed PIMCO’s investment operations capabilities in 2000, it became the cornerstone of our investment manager operations servicing business. Since then, State Street has worked alongside PIMCO to help support its ongoing expansion into new geographies. This renewal is a strong endorsement of our continued investment in technology solutions for global asset managers.”
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