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State Street to Buy Brown Brothers Harriman Investor Services for $3.5 Billion – n7t


State Road Corp. agreed to purchase Brown Brothers Harriman & Co.’s investor-services unit for $3.5 billion in money, a deal that expands the custody financial institution’s core enterprise serving funding corporations.

Brown Brothers’s BBH Investor Providers enterprise performs accounting and administrative duties for asset managers and pensions, overseeing $5.4 trillion in belongings underneath custody. State Road chief govt Ron O’Hanley stated that including these belongings to its personal $31.9 trillion will elevate State Road above rival Financial institution of New York Mellon Corp. because the money-management trade’s greatest servicing agency.

State Road to Purchase Brown Brothers Harriman Investor Providers for $3.5 Billion Source link State Road to Purchase Brown Brothers Harriman Investor Providers for $3.5 Billion

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