State Street Buys Risk Management Company, Will Target Service To Institutional Clients

RISK MANAGEMENT

BOSTON--State Street announced it would by Askari, a New York-based risk management consulting firm and software developer. Terms of the deal were not disclosed, but it is expected to close by July 1. The company has approximately 12 employees, and all will be offered positions with State Street. Askari's president and founder, Peter Davies will report directly to Ralph Vitale, an executive vice president in the bank's financial markets group, the area responsible for securities lending

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