State Street Corporation, the provider of financial services to institutional investors, announced today that it was named Transition Manager of the Year in The Asset magazines 2010 Asset Asian Awards (Triple A).
The Asset magazines Triple A awards recognize institutions and individuals who make significant contributions to the development of the financial industry in Asia. State Street was recognized for helping clients across the Asia-Pacific region to minimize costs and mitigate risk in transition management, especially during the volatile market conditions experienced in 2009. The Triple A awards were presented on 25 March at a dinner ceremony in Hong Kong.
State Street is a global leader in transition management. In Asia-Pacific, it has local transition management teams in Sydney, Tokyo, Singapore and Hong Kong.
This award reflects State Streets commitment to leveraging its global expertise to provide unique solutions for clients across local markets, says Peter ONeill, executive vice president and head of State Streets Global Markets and Global Services businesses in Asia-Pacific. Transition management needs vary widely across markets in the region, and we have built our team and products to be 100 percent focused on each clients unique specifications.
Globally, State Street has managed more than 3,400 transitions over the past five years for plan sponsors across all asset classes.
State Street has provided transition management services since 1979 and in the Asia-Pacific region since 1998, says Justin Balogh, senior managing director of State Street Global Markets in Asia-Pacific. The longevity and steady growth of our business reflect our ability to bring the key value propositions of portfolio-advisory research and transition-management execution to the localized needs of investors worldwide.
The Asset cited State Streets performance in transition management during the market turbulence. State Street was able to provide optimized trading solutions to its clients even in this highly volatile market.
By tapping into advances in technology and infrastructure, State Street consistently delivered an efficient process where execution risk and information leakage were minimized, the magazine added.
D.C.