PineBridge Investments Appoints State Street to Provide Investment Manager Operations Outsourcing Services for $53 Billion in As

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State Street Corporation announced today that it has been appointed by PineBridge Investments to provide investment manager operations outsourcing services for $53 billion in assets

BOSTON — May 4, 2010 —State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today that it has been appointed by PineBridge Investments to provide investment manager operations outsourcing services for $53 billion in assets. State Street is a market leader in investment servicing, providing services for more than $7 trillion in middle office assets to clients globally with solutions covering all aspects of the trading cycle.  

PineBridge Investments is a global, multi-strategy asset manager and investment adviser with US $87.8 billion in assets as of March 31, 2010. State Street will provide PineBridge’s operations in New York, Dublin, Hong Kong and Tokyo with global outsourcing services, including transaction management, data management, investment recordkeeping, performance support and reconciliation. State Street will also provide fund accounting services for PineBridge in Japan.

“As PineBridge embarks on its journey as an independent firm, it is vital that the business works with the leading players within the sector,” said Orla Horn, PineBridge Managing Director and Global Head of Investment Services. “State Street’s global expertise in investment servicing, its proven technology capabilities and scale will provide significant benefits to support our clients and our rapid business expansion.  We look forward to working with them in a true partnership arrangement.”

“PineBridge already possesses a history of providing high quality client service. We believe that they have an exciting future ahead and are pleased to be working with them as they continue to grow and develop their business,” said Jeff Conway, executive vice president and head of investment manager operations servicing and new business integration at State Street.  “State Street continues to focus on building significant global scale and infrastructure to our outsourcing platform to provide our customers with unique and advanced solutions that best suit their needs.”

This mandate from PineBridge underscores the continued momentum of State Street’s investment manager operations outsourcing services. State Street’s services help investment managers convert substantial fixed operating costs to a variable cost model, eliminating manual processes and ensuring data integrity.

About PineBridge Investments

PineBridge Investments manages assets for institutional and individual clients across an extensive platform of listed equity, fixed income, private equity and hedge capabilities.  With more than 890 professionals in 32 countries and jurisdictions, PineBridge Investments’ strong global network captures local market knowledge and identifies potential opportunities for the benefit of investors around the world.  For additional information on PineBridge Investments, visitwww.pinebridge.com.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management, and investment research and trading. With $19 trillion in assets under custody and administration and $1.9 trillion in assets under management at March 31, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street atwww.statestreet.com.

News Source : PineBridge Investments Appoints State Street to Provide Investment Manager Operations Outsourcing Services for $53 Billion in Assets