State Street has completed its acquisition of Investors Financial Services, for a figure of $4.2 billion. State Street says the deal will allow it to expand its capabilities beyond basic custody to focus on other value-added services. The firm estimates that the acquisition will add $2.3 trillion in assets, of which $1.8 trillion is held in custody. State Street will now claim a total of roughly $14.1 trillion in assets under custody.
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails