Lazard Asset Management (LAM) has formally registered intent to adopt State Street’s front-to-back investment servicing platform.
While LAM is currently a customer of State Street’s middle and back office investment servicing solutions.
In addition, it relies on Charles River Development (CRD), which was acquired by State Street last year, for investment management solutions, such as data and analytics, to supplement institutional, wealth and alternative investment.
LAM will also adopt CRD’s software-as-a-service solution for its equity and multi-asset clients.
Following the finalisation of agreements, LAM will be inducted onto the CRD Client Advisory Board, where it will have the opportunity to provide feedback and advice on the firm’s strategic products and services.
Lou Maiuri, COO at State Street, said: “We are delighted with the prospect of LAM becoming a client of State Street’s front-to-back investment servicing platform.”
“We have a long-standing relationship with the firm and believe the solutions we can provide will support their business needs. Today’s announcement is evidence of the CRD acquisition enabling us to deepen and grow client relationships and deliver positive results for our shareholders.”
