State Street Trims Management Ranks

State Street has restructured its management ranks, eliminating 200 positions, as the firm seeks to reduce costs and invest in technology, including its Alpha platform, Chief Financial Officer Eric Aboaf said on the firm’s fourth-quarter earnings call Friday. “It does seem … the Alpha platform is still one of their big pushes, focusing on the Charles River acquisition years ago and [now] bringing together a full-service, front, middle and back-office solution together for their larger clients,” said Pat Newcomb, a relationship manager at FUSE Research, which counts State Street as a client.

For the complete article, click here (subscription required).

Article published on January 23, 2023