ABN Amro Asset Management has selected State Street Corp. to run its fund administration and investment operations services in Europe.

State Street is to service assets for ABN Amro Asset Management in the Netherlands, United Kingdom, Luxembourg, and Sweden. The service is to be phased in over two-and-a-half years beginning this summer.

As part of the mandate, State Street is to expand its operations in Amsterdam and develop a fund servicing center, hiring about 110 employees of the ABN Amro asset unit.

The ABN Amro unit has $88.67 billion of assets under management in Europe. It will keep its current custody arrangements intact.

State Street is the leading specialist in supplying institutional investors with investment servicing, management and research and trading services.

 

 

 

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.