Expanded relationship will support growth, drive efficiencies and build on existing operational expertise
Columbia Threadneedle Investments announced that it has selected State Street Corporation as the service provider for a unified and outsourced global back office. State Street will provide fund accounting, administration and custody services for Columbia Threadneedle’s pooled funds, including ETFs, in the U.S. and Europe, drawing on State Street’s significant capabilities and broad industry experience.
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In North America, Columbia Threadneedle will transition and consolidate fund accounting, administration and custody services for its U.S. pooled funds and other fund ranges with State Street. More than 100 Columbia Threadneedle employees who provide fund accounting and administration services are expected to transfer to comparable roles at State Street, providing continuity of service and expertise to fund shareholders while leveraging State Street’s investment servicing capabilities.
In Europe, Columbia Threadneedle will further consolidate fund accounting, administration, depositary and custody services for its UK and Luxembourg-based pooled funds with State Street1, building on an existing and long-standing relationship between the firms.
David Logan, Head of EMEA and Global Business Operations at Columbia Threadneedle, said:
“Enhancing our operating platform is a strategic priority for Columbia Threadneedle and core to our growth strategy. Expanding our long-standing relationship with State Street will drive important efficiencies as we continue to enhance our operating model to meet the evolving needs of investors globally.”
“We have enjoyed a successful decades-long relationship with Columbia Threadneedle and look forward to helping them continue their commitment to operational excellence and expanding our services to support the next phase of their growth,” said Joerg Ambrosius, president of Investment Services at State Street. “As leading asset managers like Columbia Threadneedle look to build scale and expand into new markets, we are well-positioned to provide them with full-service solutions.”
Columbia Threadneedle is committed to operational excellence and delivering a best-in-class client experience. We expect this consolidation of service providers to create efficiencies and savings for fund shareholders and Columbia Threadneedle. We do not expect a material financial impact for Ameriprise Financial, Inc. (NYSE: AMP), Columbia Threadneedle’s parent company. The consolidation and outsourcing of back-office services to State Street will begin in the fourth quarter of 2025 and is expected to take approximately one year to complete.
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