The partnership comes as custodians turn to FinTechs and other technology providers to transform and automate unstructured data in the alternatives markets.
State Street reached its latest milestone of providing services to over $5 trillion of global ETF assets. Frank Koudelka, State Street’s ETF product specialist, details the recent changes the bank has made to its ETF servicing model.
As fund managers flock to private markets for increased returns, many are finding they have to update their technology infrastructure to properly process data and transactions.
State Street’s head of digital partnerships and investments joins Lukka after leading the custodian’s investment in the digital asset firm.
The new unit, State Street Digital, will be led by well-known securities services veteran Nadine Chakar, and seeks to address the industry-wide shift to a digital economy.
New appointments will be responsible for leading and executing the enterprise-wide business strategy, developing talent and managing existing relationships.
Insurance asset servicing specialist switches BNY Mellon for State Street after almost 20 years with the custodian.
The service uses BestX technology to provide RBC I&TS clients with FX TCA reporting to assess the execution quality of their currency overlay services transactions.
ASI have converted two ETFs from being serviced by another provider to State Street in order for the asset manager to better control costs and maximise efficiencies.
Over the past year, State Street has established itself as the provider of choice for the active ETF market.