State Street opens Shanghai office

The Shanghai team will report to Eric Chow, head of relationship management for State Street's alternative investment solutions (AIS) business in the Asia Pacific region.

"We believe our approach to providing integrated investment servicing solutions is well-suited to China's growing market, where domestic institutional investors have become more sophisticated and are gaining more exposure abroad," Carol Hall, senior managing director of the firm's AIS team, said in a statement. "These investors are looking for foreign partners with global capabilities combined with local knowledge and expertise."

State Street had $27.4 trillion in assets under custody and administration and a further $2.3 trillion in assets under management at the end of 2013.

The firm established a presence in China in 2008, opening a technology center in Hangzhou, and a Beijing office followed three years later. State Street Global Advisors, the firm's investment management division, announced a joint venture with Zhongrong International Trust Company in 2013.

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• Topics
• Advisory
• Greater China
• State Street
• professional services
• Fund administration
• China