BOSTON--(BUSINESS WIRE)--Mar. 22, 2021--
Charles River Development, a State Street Company, today announced that the first 10 clients to adopt its strategic cloud solution are now live. The Charles River Investment Management Solution (Charles River IMS) on Microsoft Azure helps set a new industry standard as a cloud-based offering that helps firms innovate, bring new products to market quickly, and mitigate operational and security risks.
BMO Global Asset Management, who recently implemented Charles River IMS on Azure in Canada, commented: “Charles River IMS on Azure provides our Canadian business with a solution that accommodates multi-asset products and scales for high volumes of activity.”
“Having 10 clients live just over one year after announcing our strategic cloud solution represents a significant milestone,” said Dean Landis, Global Head of Delivery, Charles River. “During that time, we built a platform architecture that would allow customers to both streamline their operations as well as enable business transformation. When events surrounding the COVID-19 pandemic unfolded, we were able to support our customers’ transition to remote operations while continuing to move forward with cloud migrations.”
“This is great news because it demonstrates how far we’ve come in one year and what we will continue to accomplish with approximately 40 customer deployments we have planned in the coming months,” said Dmitriy Ilyin, Managing Director of SaaS Operations, Charles River. “This year has emphasized the importance of cloud technology in business continuity, and we’ve built a resilient and performant platform that meets the stringent security standards required by our customers.”
“Charles River’s use of Microsoft Azure allows them to empower investment firms with innovative capabilities underpinned by a flexible, highly performant, and secure foundation,” said Corey Sanders, corporate vice president, Microsoft Corp. “Our collaboration with Charles River will continue to deliver an enhanced customer experience, to help their clients navigate changing markets and enable business growth and transformation.”
About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River’s front and middle office investment management platform to manage more than US$30 Trillion in assets. Together with State Street’s middle and back office capabilities, Charles River’s cloud-deployed software technology forms the foundation of State Street Alpha℠. The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 1,000 employees in 11 regional offices. For more information, please visit www.crd.com.
(Statistics as of February 2021)
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 $38.8 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of December 31, 2020, 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 www.statestreet.com.
*Assets under management as of December 31, 2020 includes approximately $75 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
©2021 State Street Corporation – All Rights Reserved
State Street Corporation, One Lincoln St, Boston MA 02111
Information Classification: General
View source version on businesswire.com:
Source: Charles River Development, a State Street Company