Columbia Threadneedle Outsources Back Office to State Street

Columbia Threadneedle Investments announced that it has selected State Street Corporation as the service provider for a unified and outsourced global back office. State Street will provide fund accounting, administration and custody services for Columbia Threadneedle’s pooled funds, including ETFs, in the U.S. and Europe, drawing on State Street’s significant capabilities and broad industry experience. In North America, Columbia Threadneedle will transition and consolidate fund accounting, administration and custody services for its U.S. pooled funds and other fund ranges with State Street. More than 100 Columbia Threadneedle employees who provide fund accounting and administration services are expected to transfer to comparable roles at State Street, providing continuity of service and expertise to fund shareholders while leveraging State Street’s investment servicing capabilities. In Europe, Columbia Threadneedle will further consolidate fund accounting, administration, depositary and custody services for its UK and Luxembourg-based pooled funds with State Street1, building on an existing and long-standing relationship between the firms.