State Street Corporation (NYSE:STT) and TCW have announced an expansion of their decades-long partnership that now includes the provision of middle office services.
This engagement builds on and grows the existing suite of services that State Street continues to provide TCW, including administrative and custody services to support TCW’s public and private fund complexes and capital for TCW’s alternatives platform. TCW will leverage State Street’s technical expertise and Alpha services to create seamless integration with its front-end platform to unify the investment management process.
“Asset managers are continually looking for partners who can provide them with solutions that enable them to serve clients well, grow, and scale,” said Ron O’Hanley, chairman and chief executive officer of State Street Corporation. “We are pleased to support TCW with end-to-end services and look forward to growing the partnership with the TCW team.”
“This partnership enables TCW to execute on our strategic growth initiatives through our expanded client offering of diversified solutions, particularly in credit alternatives which has doubled in assets over the past four years,” said Katie Koch, president and chief executive officer of TCW. “We are delighted to enter into this arrangement with State Street who has been a long-standing partner to us.”
Working with State Street will enable TCW to augment areas of its operating model to increase efficiency and scale while maximizing investment in technology solutions.
