T. Rowe Price Expands Use of Cloud-Based Charles River® IMS
April 11 2024 - 9:27AM
Business Wire
Charles River Development, a State Street Company, announced
today that T. Rowe Price will transition to Charles River’s
cloud-based technology platform. T. Rowe Price will utilize the
Charles River Investment Management Solution (IMS) for portfolio
management, trading, and compliance and the State Street Alpha®
Data Platform (ADP) for data management and services.
Charles River delivers a future-ready platform with services to
provide a foundation for business innovation and transformation. T.
Rowe Price will benefit from the cloud-based platform, including
the ability to leverage the latest products, functionality, and
scalability.
“We are excited to extend our existing relationship with Charles
River. Charles River’s cloud-based solution will allow us to
accelerate access to their new product offerings, allowing T. Rowe
Price to continue our primary focus on delivering for our clients,”
said Marc Wyatt, Head of Global Trading, T. Rowe Price. “As part of
Charles River’s Client Advisory Board, we provide strategic input
and advice regarding the firm’s direction on product and services.
Based on our business strategy, making this transition to the cloud
is a logical next step.”
“T. Rowe has been a long-time Charles River client as well as an
active member of our Client Advisory Board, and we are delighted to
deepen our collaborative partnership,” said Matt Daly, Chief
Revenue Officer, Charles River Development. “Our clients’ strategic
investment to align with Charles River IMS’s cloud-based platform
provides flexibility to simplify their business models while
expanding product offerings, supporting future growth, and keeping
pace with market volatility, margin compression, and industry
consolidation.”
About T. Rowe Price Founded in 1937, T. Rowe Price
(NASDAQ – GS: TROW) helps individuals and institutions around the
world achieve their long-term investment goals. As a large global
asset management company known for investment excellence,
retirement leadership, and independent proprietary research, the
firm is built on a culture of integrity that puts client interests
first. Clients rely on the award-winning firm for its retirement
expertise and active management of equity, fixed income,
alternatives, and multi-asset investment capabilities. T. Rowe
Price has $1.54 trillion in assets under management as of January
31, 2024, and serves millions of clients globally.
About Charles River Development, A State Street Company
Investment and wealth managers, asset owners and insurers in over
30+ countries rely on Charles River IMS to manage USD $59 Trillion
in assets. Together with State Street’s middle and back office
services, Charles River’s cloud-based front office technology forms
the foundation of State Street Alpha.Charles River helps automate
and simplify the 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 partner ecosystem enables clients to
access the data, analytics, application and liquidity providers
that support their product and asset class mix. With a 1750+ global
headcount, Charles River serves clients in 11 regional offices. To
learn more visit www.crd.com. (Statistics as of Q4 2023. Assets are
inclusive of clients using the platform for purposes of secondary
compliance.)
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
$41.8 trillion in assets under custody and/or administration and
$4.1 trillion* in assets under management as of December 31, 2023,
State Street operates globally in more than 100 geographic markets
and employs approximately 46,000 worldwide. For more information,
visit State Street's website at www.statestreet.com. * Assets under
management as of December 31, 2023 includes approximately $64
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. © 2024 State Street Corporation - All
Rights Reserved
Charles River Development - A State Street Company is a wholly
owned business of State Street Corporation (incorporated in
Massachusetts).
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Media Ed Patterson epatterson@statestreet.com (404)
213-3106
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