State Street has acquired Swiss-based investment performance and analytics firm Complementa Investment-Controlling.
The St. Gallen, Switzerland-based firm provides asset consolidation services, performance measurement and investment controlling for institutional and large private investors primarily based in Switzerland and Germany.
Todays announcement enables Complementa to affiliate with a leading, global analytics organization, commented Benjamin Brandenberger, founder and chairman of Complementa. This transaction gives us access to State Streets global capabilities and the potential to extend the current product suite offered to our clients for their global portfolios, all while maintaining the ability to provide our clients the high quality, precise service to which they are accustomed.
Joe Antonellis, vice chairman of State Street, said: The business fits well alongside State Streets current leading investment analytics business and provides us with further opportunity to expand our offering across Germany, the Netherlands, Italy and other European and global markets.
The acquisition also includes wholly-owned subsidiary Allocare, a Swiss asset management software provider. Complementas HedgeAnalytics business is excluded from the transaction. Benjamin Brandenberger and Michael Brandenberger, CEO of Complementa will serve as board members and be actively involved in the business. Andreas Joost, already a member of the Complementa managing board, will take over the CEO position and manage Complementa’s business. Complementa will be a wholly-owned subsidiary of State Street and will retain its name and identity.
(JDC)