Invesco reportedly in talks with State Street regarding asset management unit

Invesco Ltd. is in talks with State Street about a merger with State Street Global Advisors, the Boston-based bank’s asset management business, according to a source quoted by Reuters.

The Wall Street Journal broke the news of a possible transaction, which would involve the State Street unit managing $4 trillion in assets, much of which is invested in its SPDR series of exchange-traded funds.

Last week, State Street said it is buying the investor services business of Brown Brothers Harriman for $3.5 billion.

In 2017, Invesco Ltd. agreed to purchase Guggenheim Partners’ ETF business in a $1.2 billion deal. And in 2018, it agreed to pay Massachusetts Mutual Life Insurance Co. about $5.7 billion to acquire its OppenheimerFunds, which specialized in picking stocks and bonds, particularly in the international arena.

The post Invesco reportedly in talks with State Street regarding asset management unit appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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