State Street has completed its acquisition of Charles River Systems (Charles River Development).
According to State Street, it is anticipated that the combination will enable the industry’s first-ever global interoperable platform by connecting the front, middle and back office with one provider.
This platform will accelerate investment workflows, provide advanced data aggregation, analytics and compliance tools, connect, and exchange data with other industry platforms and providers, State Street revealed.
Jay Hooley, chairman and CEO of State Street, said: “The combination of State Street and Charles River Development will create an open platform that will standardise data and systems across multiple asset classes and the entire investment lifecycle.”
“We are delighted to welcome the more than 700 talented employees who join State Street today and look forward to working with the Charles River Development clients to support their current and future business needs.”
