State Street Opts for Sungard Global Plus For High Net Worth Business

PORTFOLIO MANAGEMENT

BOSTON--Despite its parent company's ownership of two widely used, multicurrency accounting systems, State Street Global Advisors signed a license for Sungard Asset Management Systems Global Plus portfolio management system. The Sungard application will be used for the wealth management group, a $17 billion asset management operation tucked within the giant $458 billion asset SSgA.

The multiyear contract has been estimated to be worth from $10 million to $20 million, a source says.

The wealth

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