Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:State Street Takes Over Admin of ABN AMRO Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 14, 2004

State Street Takes Over Admin of ABN AMRO Funds

by: Theresa Sim

ABN AMRO Assets Management will begin a two and a half year process of handing over administration of its funds this summer, the asset manager announced on Friday.

The deal, which covers ABN AMRO's Netherlands, the United Kingdom, Luxemburg and Sweden operations, amounts to 75 billion euros in assets, or approximately $89 billion.

"Outsourcing our fund administration and investment operations will enable us to…focus on the investment process. We will put in place a structure for future growth while reducing costs and removing operational risk from our balance sheet" said Bert Schouws, chief financial officer and chief operating officer of ABN AMRO Asset Management.

Using 110 current ABN AMRO employees, State Street will develop a fund servicing operation in Amsterdam. A State Street spokesperson did not immediately return a call seeking comment about additional hires or expansion plans.

ABN AMRO managed approximately $196.8 billion in assets total at the end of March.

ABN AMRO Mellon remains custodian of ABN AMRO's assets. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use