State Street acquires Investors Financial Services

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.

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