State Street Global Advisors Named World's Best Asset Management Bank for Second Consecutive Year.BOSTON -- State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE NYSE See: New York Stock Exchange : STT STT State Street Corporation (stock symbol) STT Suomen Tietotoimisto (Finnish National News Agency) STT Secure Transaction Technology STT Surface Tension Transfer (welding) ) and the largest institutional fund manager in the world, announced today that it has been named 2006 Best Asset Management Bank in the World by Global Finance magazine. FX Connect, State Street's multi-bank electronic foreign exchange trading Foreign Exchange Trading or FX Trading, clients are able to hedge against, or speculate upon, changes in the exchange rate of two currencies. For example, a speculator can long EUR/USD in foreign exchange market in order to profit from capturing the appreciation of Euro against the system, was also named Best Online Foreign Exchange Trading System. Global Finance's editorial board selected the best organizations based on growth in assets, profitability, geographic reach, strategic relationships, new business development and product innovation. Editors also spoke with equity and credit-rating analysts, banking consultants and other leading industry executives worldwide to determine the award recipients. "As the global economy continues to be challenged by rising interest rates and oil prices, banks are under increasing pressure to provide more sophisticated levels of service spanning multiple markets for less," said Joseph Giarraputo, president and publisher of Global Finance. "Only those banks with the capital to invest in technology and a global footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor. 1. , combined with local market knowledge and a well-trained staff able to anticipate customers' needs, are likely to remain dominant for years to come." The World's Best Banks report is featured in the October 2006 issue of Global Finance. For more information, visit www.gfmag.com. About State Street Global Advisors: State Street Global Advisors, the investment management arm of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.5 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of June 30, 2006, State Street Global Advisors has investment centers in Boston, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion