Calamos Investments, which has $30.5 billion of assets under management, has elected to make State Street Corp. its sole investment servicing provider for all of its U.S. and global products. As a result, State Street will expand beyond its current back-office offerings to provide custody, fund administration and securities lending services.
“By further consolidating our operations with State Street, it provided us with a seamless model which has resulted in additional efficiencies in our processes, enabling us to better serve our clients,” said Nimish Bhatt, senior vice president of Calamos Advisors and chief financial officer of Calamos Funds.
“State Street understands our complex investments and associated accounting requirements,” Bhatt continued. “The consistency and expertise of its fund accounting and fund administration teams also ensure continuity of service quality for our funds.”
State Street Executive Vice President Alan Greene said, “Growing our market share within the U.S. mutual fund arena will help ensure we stay ahead of the changes in the industry and develop solutions for our customers.”