State Street Enhances Partnership with Columbia Threadneedle for Fund Services

Columbia Threadneedle Investments has appointed State Street Corporation to provide expanded fund accounting, administration, and custody services for its pooled funds, including exchange-traded funds (ETFs), across the United States and Europe. This partnership involves managing assets totaling approximately $431 billion, significantly enhancing the operational capabilities of Columbia Threadneedle.

As part of this initiative, over 100 Columbia Threadneedle employees based in the United States will transition to equivalent roles at State Street. This move aims to integrate the fund accounting and administrative services currently provided for Columbia Threadneedle’s US pooled funds. In Europe, the collaboration will also merge fund accounting, administration, depositary, and custody services for pooled funds located in the UK and Luxembourg.

State Street has a long-standing history with Columbia Threadneedle, having provided back-office services for various legacy mutual funds since the 1990s. Their relationship further strengthened following Columbia Threadneedle’s acquisition of BMO Financial Group’s Asset Management business in 2021. This latest agreement marks a significant step in their evolving partnership.

Statements from Leadership

Joerg Ambrosius, President of Investment Services at State Street, commented on the partnership, stating, “We have enjoyed a 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.”

David Logan, Head of EMEA and Global Business Operations at Columbia Threadneedle, expressed enthusiasm about the collaboration, saying, “We are delighted to expand our relationship with State Street as they support our growth agenda, providing valuable and scalable expertise, capabilities, and resources.”

This strategic partnership not only aims to enhance operational efficiency but also positions both companies to leverage their strengths in a competitive market. The integration is expected to provide Columbia Threadneedle with the necessary support to pursue its growth objectives while ensuring high-quality service delivery to its clients.

The expansion of services signifies a commitment to innovation and excellence within the financial sector, reflecting the evolving landscape of investment management.