State Street disavows claims of asset management sale - reports

Sparked by Invesco rumours

State Street has said the firm has no plans to offload its asset management arm, instead asserting how important the business was, the FT has reported.

Speaking during the company's Q3 earnings call, executives declined to comment on reports that there were ongoing conversations with competitors to offload its asset management arm. Ten years on: Impact of GFC is still being felt in asset management industry Rumours of a deal were sparked by a Wall Street Journal report, which said the firm had been in merger talks with Invesco, while Bloomberg reported the firm was in conversation with UBS last December. State Street Global Advisors stood at $3.9trn in assets under management at the end of September, up 26% from the previous year,...