State Street reels in GEAM

State Street says it has completed its acquisition of GE Asset Management (GEAM).

“This transaction is a key step in our strategy to invest in higher growth and return businesses,” said Jay Hooley, chairman and chief executive officer of State Street Corporation. “It is also an important part of SSGA’s continued evolution as a premier provider of solutions to clients.”

“GEAM’s asset management capabilities – in areas spanning active management, alternatives and OCIO mandates – are not only complementary to our own, but will also strengthen the range of SSGA’s offerings in the marketplace,” said Ron O’Hanley, president and chief executive officer of SSGA. “In this lower-for-longer return environment, we think it is more important than ever for us to develop a broad investment toolkit and solutions mindset to help our clients achieve their investment goals.”