Industry News

Tom Secaur Weighs in on BBH and State Street Deal

In September, State Street announced its $3.5 billion deal for BBH Investor Services. While State Street has historically serviced some of the world's largest and most complex asset managers, BBH has had success providing high touch services for small and mid-size firms. These strategic differences have raised a number of questions around the integration of the two business moving forward. Tom Secaur is quoted on these questions in Ignites:

"It's not a culture clash, but it is a different business model," said Tom Secaur, chief operating officer at Citisoft. "State Street is able to take on just about anybody regardless of size, [assets under management], asset mix, geographic location, et cetera, but any service provider is going to have its limits on how much bandwidth it has to take on new clients."

For more on how this deal may shake out for BBH and State Street clients, read the full article here.

Get Regular Updates