BOSTON--(BUSINESS WIRE)--
State Street Corporation, (State Street), NYSE:STT, today announced it will adopt Microsoft Azure, Microsoft’s cloud computing platform, to deploy the Charles River Investment Management Solution () on. As part of the agreement, Charles River will also incorporate Microsoft Power BI and Microsoft Teams into Charles River IMS.
Charles River’s cloud-based Software as a Service (SaaS) model helps investment firms simplify and improve operations, scale more readily, increase user satisfaction and better manage operational risk. By using Azure, Charles River will be able to rapidly deploy new products and services, more easily increase data and computing capacity, and serve all geographies on a single platform. Azure’s sophisticated security infrastructure will also provide AI-based sentinel services to detect and prevent security breaches. The integration of Power BI and Teams adds a full complement of analytics, dashboarding, reporting, and collaboration capabilities, providing clients with additional means to configure Charles River IMS to meet the unique requirements of their investment processes.
“Our use of Microsoft Azure is a logical next step in Charles River’s evolution as a cloud-based enterprise investment management solution provider,” said John Plansky, CEO of Charles River. “Cloud utilization through Azure will enhance our clients’ experience, enabling them to more easily adopt Charles River IMS’ latest functionality and keep pace against an industry backdrop of heightened market volatility, margin compression, and industry consolidation. Azure also provides the robust infrastructure our global client base requires to address growing regulatory requirements around data residency and movement. Integrating Microsoft Power BI and Teams boosts our collaboration by enabling Charles River IMS to better support clients’ business intelligence needs, as well as their desire to have built-in collaboration capabilities”
Edward Fandrey, Vice President US Financial Services, Microsoft Corp., said, “Charles River’s use of Microsoft Azure will provide institutional asset managers with a scalable, flexible and highly performant platform for managing their investments and servicing their investors. We are proud of our collaboration with Charles River and their choice of Azure, Microsoft Power BI, and Microsoft Teams to better serve their clients.”
About Charles River, a State Street Company
Charles River enables sound and efficient investing across all asset classes. Investment firms in more than 30 countries use Charles River IMS to manage more than US$25 Trillion in assets as of April 2019 in the institutional investment, wealth management and hedge fund industries. Our Software as a Service-based solution (SaaS) is designed to automate and simplify investment management on a single platform – from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 925 employees in 11 regional offices.
*As of April 2019
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 $32,754 billion in assets under custody and administration and $2,918 billion* in assets under management as of June 30, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at .
*Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $36 billion as of June 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA 02111-2900.
© 2019 State Street Corporation - All Rights Reserved
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