BOSTON--(BUSINESS WIRE)--Charles River Development, a State Street Company, today announced that Steve Pike has been appointed Director of the Charles River Wealth Hub, responsible for asset manager on-boarding and service bureau relationships. In addition to overall responsibility for the Wealth Hub, Pike will oversee strategic direction and growth strategy, shaping the product roadmap to meet the requirements of sponsor firms and asset managers serving wealth clients.
The Charles River Wealth Hub connects managed account program sponsors and 3rd party asset managers through an open architecture, secure network environment built in the Microsoft® Azure strategic cloud. The Wealth Hub supports models-only programs as well as traditional discretionary traded separate accounts and unified managed accounts programs.
“We are thrilled to have Steve join Charles River and lead our Wealth Hub initiative,” said Randy Bullard, Global Head of Wealth at Charles River. “Steve is a seasoned investment professional with a strong track record of developing and launching innovative programs and solutions for intermediary firms across the wealth management landscape. Steve’s experience will be central to helping us launch and grow our Wealth Hub platform.”
Prior to Charles River, Pike led High Net Worth client product strategy for TD Ameritrade (TDA) Institutional. Pike also spent over 20 years with Fidelity Institutional in a variety of Product leadership roles where he delivered solutions targeted to a number of different wealth market segments including independent RIA, introducing broker/dealer and multi-family office.
“I am excited to join Charles River and bring the Wealth Hub offering to market,” said Pike. “I look forward to engaging with stakeholders and expanding our rapidly growing ecosystem of wealth managers and sponsors’ programs to support Charles River’s wealth strategy globally.”
About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River’s front and middle office investment management platform to manage more than US$29 Trillion in assets. Together with State Street’s middle and back office capabilities, Charles River’s cloud-deployed software technology forms the foundation of State Street AlphaSM. The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of as of April 2020)
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 $31.86 trillion in assets under custody and/or administration and $2.69 trillion* in assets under management as of March 31, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of March 31, 2020 includes approximately $50 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
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