On August 29, 2025, Columbia Threadneedle Investments, Ameriprise Financial's asset management arm, announced the selection of State Street Corporation as its global back office service provider. State Street will provide fund accounting, administration, and custody services for Columbia Threadneedle’s pooled funds, including ETFs, in the U.S. and Europe.
This strategic partnership aims to unify and outsource Columbia Threadneedle's global back office operations. The move is expected to leverage State Street’s significant capabilities and broad industry experience to enhance operational efficiency and streamline processes.
The decision to outsource these critical functions reflects a focus on optimizing the operational model within the Asset Management segment. This change is anticipated to contribute to improved cost management and allow Columbia Threadneedle to concentrate on its core investment management activities.
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