State Street Takes Stake In Welsh Carson's GFI
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State Street Bank & Trust has taken an ownership stake in Global Financial Information Corp. (GFI) and 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
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