BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced the appointment of Andrew Allright as CEO of InfraHedge, the firm’s dedicated managed account business. Allright has been with InfraHedge since it launched in 2011, and has played a key role in growing the business to become the global leader in servicing managed accounts. With more than $30 billion of client assets, InfraHedge designs, builds and operates dedicated, customized platforms for institutional investors to effectively manage their third-party investment programs.
“The InfraHedge business has shown tremendous growth over the last few years,” said George Sullivan, global head of State Street’s Alternative Investment Solutions business. “I look forward to Andrew and his team driving it through the next stage of its development by taking advantage of the attractive market environment. Managed accounts are increasingly becoming the preferred choice for institutional investors, and we have great confidence in the attractiveness of our platform business which has been designed since inception to focus entirely on the needs of investors in order to help generate the best possible outcomes.”
Allright will continue to lead a longstanding team comprising Ravi Raman, chief operating officer, as well as new hires including Robert Vanderpool, president of InfraHedge North America, and Lizzy Buss, head of EMEA and APAC business development.
InfraHedge was also recently awarded the 2018 Porter Prize, in the category “Platforms, Smart Connected Products and Solutions”, by the Institute for Strategy and Competitiveness at Harvard Business School. It is the first time an organization associated with the hedge fund industry has won this prize.
The award recognized InfraHedge for:
- Expanding opportunities for new functionality, greater reliability, higher product utilization;
- Offering capabilities that cut across and transcend traditional product boundaries; and
- Building capabilities within enterprises to rethink and retool nearly everything they do internally.
“We are thrilled that InfraHedge has been honored with a Porter Prize,” said Allright. “We have built a diverse and experienced team who are focused on meeting and exceeding the expectations of our clients, and we are committed to continuing to help move the industry forward.”
The Porter Prize, named after Harvard Business School Professor and leading management thinker Michael E. Porter, is awarded to companies for their strategic acumen across several parameters. Porter Prizes were awarded to ten companies in eight different categories following applications from more than 250 firms. Click here for full details.
To learn more about InfraHedge, click here.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $33.90 trillion in assets under custody and administration and $2.70 trillion* in assets under management as of June 30, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33 billion as of June 30, 2018), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation, One Lincoln Street, Boston, MA 02111-2900
The information contained in this communication is not a research recommendation or ‘investment research’ and is classified as a ‘Marketing Communication’ in accordance with the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation. This means that this marketing communication (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research (b) is not subject to any prohibition on dealing ahead of the dissemination of investment research.