State Street Corporation has completed its acquisition of Charles River Systems, Inc.

“The combination of State Street and Charles River Development will create an open platform that will standardise data and systems across multiple asset classes and the entire investment lifecycle. We are delighted to welcome the more than 700 talented employees who join State Street today and look forward to working with the Charles River Development clients to support their current and future business needs,” said Jay Hooley, chairman and CEO of State Street.

State Street also announced today the establishment of a Charles River Development Client Advisory Board to provide ongoing strategic input into the platform development, engage with peers across the industry, as well as shape new products and solutions aligned with market and industry trends. Jenny Tsouvalis, senior vice president and enterprise head of investment reporting, operations and applications for OMERS Administration Corporation, will chair the advisory board.

“I have worked closely with State Street and Charles River Development, and I am excited about the opportunity to chair this new client advisory board,” said Tsouvalis. “From the inception of our relationship with Charles River Development, the functionality has grown each year expanding and offering both front- and middle-office business solutions that we have taken advantage of and implemented. The acquisition by State Street creates a deeper platform to develop additional workflow features and integration to support the front, middle and back offices. As a client, we see this as an opportunity to further grow the product and increase with expanded innovative capabilities.”

John Plansky has been named CEO of Charles River Development. Plansky has led State Street’s Global Exchange business for the last 18 months, where he oversaw the launch of a number of front-office solutions including Verus, investible indices and DataGX(SM), State Street’s end-to-end data warehousing solution.

by Alex Hamilton
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