State Street has extended its relationship with Investec Asset Management, a specialist investment manager, for another seven years.
As per the terms of the deal, State Street will provide full middle office and fund accounting services to Investec Asset Management across the UK, South Africa, Luxembourg and the US.
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Investec Asset Management provides investment products and services to institutions, advisory clients and individuals. Its clients include pension funds, central banks, sovereign wealth funds, insurers, foundations, financial advisers and individual investors.
Investec Asset Management chief operating officer Kim McFarland said: "State Street has always worked with us as a partner and understands the constant evolving needs of our business and the industry. We were keen to continue our relationship to ensure State Street’s excellent support."
John Campbell, head of global services for UK, Middle East and Africa at State Street said, "We are very proud to have been able to support Investec Asset Management during their phenomenal growth over the past ten years and are delighted that they have chosen to continue our successful partnership."
"There is a new battleground for today’s asset managers," continued Campbell. "Our recent research1 revealed that more than three quarters of asset managers are embarking on a fundamental shift in their business strategy in response to changing client demands."
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