State Street Bank Takes $10M Stake In GFI Corp.

VENDOR STRATEGIES

State Street Bank & Trust has taken an ownership stake in Global Financial Information Corp. and the two companies have agreed that State Street's chairman will become a member of GFI's board. At the same time, details have emerged as to how State Street intends to structure its business--including its so-called strategic alliance with GFI--going forward. Specifically, the bank has created two new entities: a division dubbed State Street Information Partnerships (SSIP) and a subsidiary known