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Asset Management / Wealth Management
Charles River wins Australia mandate
State Street company to manage Perpetual’s front-office operations
The Asset 25 Mar 2024

Perpetual Group, a Sydney-based global financial services firm, has appointed Charles River Development, a State Street-owned investment management solutions and services provider, to manage the front-office operations of its Australian asset management business.

Perpetual’s Australian asset management business will adopt the Charles River Investment Management Solution (IMS) to manage its domestic and global portfolios, order and execution, compliance, post-trade processing and front-office data.

Perpetual completed the acquisition of Pendal Group in January 2023 to cement its position as one of Australia’s largest multi-boutique asset managers, with A$213.9 billion in assets under management as of December 31 2023.

Pendal Group had been a long-term Charles River client in Australia, with a relationship since 2002.

“This is an important partnership that ensures the streamlining and simplification of front office operations within Australia on a single OMS (order management system) platform with Charles River,” says Perpetual Group chief operating officer Craig Squires.

“Charles River has proven solutions supporting multi-boutique business like Perpetual. Its multi-asset capabilities, particularly across Australian and global fixed-income markets, is critical for us to grow our business globally,” Squires adds.

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