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State Street Corporation, is a global financial services and bank holding company headquartered at One Congress Street in Boston with operations worldwide. It is the second-oldest continually operating United States bank; its predecessor, Union Bank, was founded in 1792. State Street is ranked 14th on the list of largest banks in the United States by assets. It is one of the largest asset management companies in the world with US$3.7 trillion under management and US$40.0 trillion under custody and administration in 2023. It is the largest custodian bank in the world, providing securities services and it is considered a systemically important bank by the Financial Stability Board. Along with BlackRock and Vanguard, State Street is considered to be one of the Big Three index fund managers that dominate corporate America.
A mutual fund is an investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe, and the open-ended investment company (OEIC) in the UK.
The 2003 mutual fund scandal was the result of the discovery of illegal late trading and market timing practices on the part of certain hedge fund and mutual fund companies.
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance.
Fidelity Investments, formerly known as Fidelity Management & Research (FMR), is an American multinational financial services corporation based in Boston, Massachusetts. Established in 1946, the company is one of the largest asset managers in the world, with $5.4 trillion in assets under management, and $14.1 trillion in assets under administration, as of June 2024, Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance.
Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. In 1973, the company's headquarters moved from New York to San Mateo, California.
Ameriprise Financial, Inc. is an American diversified financial services company and bank holding company based in Minneapolis, Minnesota. It provides financial planning products and services, including wealth management, asset management, insurance, annuities, and estate planning.
RiverSource Life Insurance Company is a U.S.-based investment management and life insurance firm which is a subsidiary of Ameriprise Financial, Inc. RiverSource is made up of RiverSource Investments, RiverSource Annuities, and RiverSource Insurance. The firm is based in Minneapolis, Minnesota.
J. & W. Seligman & Co., founded in 1864, was a prominent U.S. investment bank from the 1860s to the 1920s, until the divestiture of its investment banking arm in the aftermath of the Glass–Steagall Act. The firm was involved in the financing of several major U.S. railroads in the 1870s and the construction of the Panama Canal in the early 1900s. Seligman was also involved in the formation of Standard Oil and General Motors.
Robeco is an originally Dutch asset management firm, since 2013 part of Orix, founded in 1929 as the Rotterdamsch Beleggings Consortium. As of 2014, the company had €246 billion of assets under management. It was acquired in 2001 by the Rabobank Groep and sold in 2013 to ORIX Corporation.
James "Jim" Cracchiolo is Chairman and Chief Executive Officer of Ameriprise Financial, Inc., a leading diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. He has held these positions since September 2005, when the company was spun off from American Express. From 2003 to present, he has also been Chairman of Threadneedle Asset Management, a London-based global asset management firm.
F&C Asset Management Plc was an international asset management company. It was acquired by Bank of Montreal in 2014, and renamed as BMO Asset Management (Holdings) Plc in 2018. Its head office was in the City of London in Exchange House, Primrose Street, London. The company was then acquired by Columbia Threadneedle Investments in 2021 and renamed to Columbia Threadneedle AM (Holdings) Plc in 2022.
Marten Hoekstra is an American business executive in the financial industry.
Amundi is a French asset management company. With €2 trillion of assets under management (AUM) at the end of 2021, it is the largest asset manager in Europe and one of the 10 biggest investment managers in the world.
Guardian Capital Group, founded in 1962, operates several fully owned subsidiaries whose operations are to provide investment management services, financial advisory services, retail distribution of mutual funds, insurance, and general corporate services. Guardian Capital Group is headquartered in Toronto, Ontario, Canada, and became publicly listed on the Toronto Stock Exchange in 1969. As of December 31, 2015, the company has $24.2 billion in assets under management.
Computer Age Management Services Limited (CAMS) is a mutual fund transfer agency serving Indian asset management companies. The company was incorporated in 1988 and is headquartered in Chennai. It became publicly listed in October 2020, subsequent to an initial public offering (IPO) through an offer by its existing shareholders.
Edelweiss Group is an investment and financial services company based in Mumbai. It was co-founded by Rashesh Shah and Venkat Ramaswamy.
Columbia Threadneedle Investments is an American asset management firm. It is a subsidiary of Ameriprise Financial and operates as its asset management arm.
Kenneth R. Leibler is an American business executive who was a founding partner of the Boston Options Exchange. He was previously chairman and chief executive officer of the Boston Stock Exchange, President and chief executive officer of Liberty Financial Companies and President of the American Stock Exchange. At 36 years old, he was the youngest president in American Stock Exchange history and believed to be the youngest president of any major stock exchange.
References
- ↑ Lobo, Dylan (January 12, 2015). "Threadneedle to rebrand on major investment merger". Citywire .
- 1 2 Hunsberger, Brent (August 17, 2009). "Oregon mutual fund pioneer Inskeep dies". The Oregonian .
- ↑ "Columbia' Selected as the Consistent Brand Name for All Liberty and Columbia Mutual Funds and Related Businesses" (Press release). Business Wire. October 13, 2003.
- ↑ Goldfield, Robert (August 20, 2003). "Crabbe Huson merger closing". American City Business Journals .
- ↑ Hechinger, John (February 26, 2004). "Fleet Executives In Funds Scandal Are Put on Leave" . The Wall Street Journal .
- ↑ Stempel, Jonathan (June 14, 2007). "Marsico buys itself back from Bank of America". Reuters .
- ↑ Segal, Julie (January 17, 2008). "MONEY MANAGEMENT - Columbia's Challenge". Institutional Investor .
- ↑ McLaughlin, Tim (January 16, 2009). "Columbia Management logs $459M loss". American City Business Journals .
- ↑ Syre, Steven (May 12, 2009). "Columbia's tangled web" . The Boston Globe .
- ↑ "Ameriprise Financial Completes Columbia Management Acquisition" (Press release). Business Wire. May 3, 2010.