Invesco to Transition Front-to-Back Investment Servicing to State Street Alpha℠ Platform

Rhea-AI Summary

State Street Corporation (NYSE: STT) has entered an agreement with Invesco Ltd. (NYSE: IVZ) to implement State Street Alpha℠, an integrated asset servicing platform designed for institutional and wealth management firms. This migration aims to simplify Invesco's investment infrastructure, enhancing scale, reducing risk, and boosting operational efficiency. The integration will commence in Q2 2021, with completion targeted for late 2024. State Street Alpha combines essential components like Charles River Development and the Alpha Data Platform, facilitating better investment decisions and streamlining operations.

Positive

• Agreement with Invesco to utilize State Street Alpha, improving operational efficiency.
• Alpha platform offers flexibility and scalability for managing global public assets.
• Partnership expected to enhance data insights and real-time information for Invesco.

Negative

• Integration expected to take until late 2024, potentially delaying benefits.
• Market complexity could impact the effectiveness of the phased rollout.

State Street Corporation (NYSE: STT) today announced that it has entered into an agreement with Invesco Ltd. (NYSE: IVZ) which will result in Invesco adopting State Street Alpha℠, the first front-to-back asset servicing platform from a single provider for institutional and wealth management firms. The migration to Alpha is intended to simplify Invesco’s investment infrastructure to improve scale, reduce risk and improve operating efficiency.

State Street Alpha is a fully integrated front-to-back platform that combines proven industry leading components including Charles River Development, Alpha Data Platform, Middle Office processing, and a comprehensive set of data and back office services. With built-in flexibility and scalability, Alpha lets clients manage all public assets across global markets and streamline their day-to-day processes — helping to facilitate innovation, better inform investment decisions, optimize returns and streamline business operations.

“The State Street Alpha℠ platform will support Invesco with next-gen technology that provides both the data and flexibility needed to operate globally,” said Donna Milrod, head of State Street’s Global Asset Manager Segment and Global Clients Division. “We look forward to partnering with Invesco as they strive to create a global operating model that will standardize Invesco’s global investment processes for traditional asset classes.”

Partnering with State Street will also allow Invesco to further increase the effectiveness of its investment platform, leading to greater data insights and real-time information that will aim to enhance the overall investment experience for clients. The Alpha platform will help create a unified global operating model for Invesco to standardize and streamline investment operations.

“As markets quickly evolve, delivering real-time data and intelligence to investment managers is more important than ever,” said John Plansky, head of State Street Alpha. “By leveraging Charles River Development and State Street Alpha’s open infrastructure, Invesco will improve data integration among multiple systems and databases to more easily and efficiently gain actionable insights from front office to back.”

The integration will begin in Q2 2021 with a phased roll-out targeted to complete in late 2024.

About State Street

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 $38.8 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of December 31, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of December 31, 2020 includes approximately $75 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.

© 2021 State Street Corporation - All Rights Reserved

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FAQ

What is State Street Alpha℠?

State Street Alpha is an integrated front-to-back asset servicing platform aimed at institutional and wealth management firms.

What are the benefits of State Street's partnership with Invesco?

The partnership aims to enhance operational efficiency, improve data insights, and streamline investment processes.

When will the integration of State Street Alpha with Invesco start?

The integration will begin in Q2 2021 and is targeted for completion in late 2024.

How does State Street Alpha help investment managers?

It provides real-time data and improves data integration among systems, aiding in better decision-making.