State Street Receives Industry Awards for Client Service and Technology Excellence in Enterprise Market Risk Management
BOSTON--(BUSINESS WIRE)--Mar 21, 2019--State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that State Street Global Exchange ® has been recognized for its excellence in client service, technology and analytical techniques by Celent, a research, advisory and consulting firm focused on financial services technology. Celent is a division of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies.
State Street Global Exchange was awarded Celent’s “XCelent Advanced Technology and Analytics” award, which recognizes State Street’s cutting-edge investments in using natural language processing and machine learning to enhance its portfolio and investment risk offerings. They also noted State Street’s cohesive architectural vision, strong product roadmap and innovative approaches to solving existing problems.
State Street Global Exchange also received Celent’s “XCelent Customer Base and Presence” honor, based on the company’s track record and reputation as “ahead of the curve” across asset managers, asset owners, and hedge fund managers, through its research and creation of leading investment analytics and risk management tools.
“We are thrilled to be recognized by Celent for our technology expertise across our client services and portfolio and investment risk offerings,” said Mark McKeon, head of Analytics for State Street Global Exchange. “State Street is committed to delivering consistent excellence in our investment value chain through the use of innovative technologies, as we work to produce next-generation capabilities for our clients. Our outsourced Enterprise Risk Management solution is being utilized by some of the world’s largest asset managers and asset owners to provide them with an enterprise view of risk and performance and consolidated views of their investment portfolio.”
Celent determined awardees based on an evaluation of enterprise solutions that provide portfolio and investment risk management for front-office and risk-management stakeholders, examining each company’s strengths and weaknesses across various dimensions related to firmwide risk aggregation, performance and risk attribution, total portfolio monitoring and control, stress testing, as well as liquidity analysis and risk-centric regulatory reporting.
Cubillas Ding, Research Director at Celent, said, “Looking at the trajectory of where investment firms and solution vendors are headed, we anticipate that, as we move into the new decade, investment and risk management capabilities will increasingly separate winners from losers, in terms of their agility to deliver to critical ‘bread and butter’ industrialization demands. At the same time, these winners will need to navigate convergence trends and embrace value-added innovation ambitions.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $31.62 trillion in assets under custody and administration and $2.51 trillion* in assets under management as of December 31, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
* This figure is presented as of December 31, 2018 and includes approximately $32.44 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
**Awards annoucened in Celent’s Next-Generation Portfolio & Investment Risk Capabilities (Part 4): Enterprise Edition; November 29, 2018
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KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
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SOURCE: State Street Corporation
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PUB: 03/21/2019 09:00 AM/DISC: 03/21/2019 09:00 AM