Buy-side firms have responded positively to news of State Street’s acquisition of front-office technology firm Charles River. The deal enhances the range of solutions the world’s largest custodian bank is able to offer while the appeal of being able to buy a front-to-back offering brings a number of benefits, according to participants at the InvestOps conference. “Customers are looking for more options and we think this will help us provide them with that,” said John O’Connell, senior vice president of state capital markets at Bank of America.
Buy-side firms have responded positively to news of State Street’s acquisition of front-office technology firm Charles River. The deal enhances the range of solutions the world’s largest custodian bank is able to offer while the appeal of being able to buy a front-to-back offering brings a number of benefits, according to participants at the InvestOps conference. Mark Weller, managing director of EMEA asset management at Broadridge Financial Solutions, said the deal highlighted how ops and tech were converging.