Awards for Excellence 2002
State Street
In tough market conditions fund managers start to count their pennies more carefully. When the returns are no longer flying as high as before, there's an obvious need to find ways and means to save precious basis points any way they can.
| State Street: As its fund manager clients seek ways to cut costs State Street is enjoying a bumper year while positioning itself as more than just a custodian |
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It's in this environment that custodians, well some at least, have been thriving, as their fund manager clients turn to them in their search for greater efficiency in their back and middle offices. "There is an interesting phenomenon at work," says Ron Logue, president and chief operating officer of State Street - this year's best at global custody. "In down markets like this our business picks up. The investment management community investigates alternatives to how it operates because there is a greater need."