Pimco and Scottish Widows Form Foundation of State Street IMS

BOSTON/LONDON--Pacific Investment Management Co. (Pimco) and Scottish Widows are outsourcing almost all of their investment management operations to State Street. Rather than take on the work at one large, central operations center, State Street will continue the workflow at the client's present premises, taking on client staff and integrating existing systems.

"It's not going to be one answer for everybody," says State Street COO Ron Logue. "We have learned that neither we nor any other