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Press Release

Key Private Bank Selects Charles River Wealth Management Solution

February 27, 2020

Boston February 27, 2020 — Charles River Development, a State Street Company (NYSE:STT), today announced that Key Private Bank, the wealth management division of KeyCorp (NYSE:KEY), selected the Charles River Wealth Management Solution to expand its investment product offering. The fully managed solution provides Key Private Bank with portfolio management, trading, and compliance across its equities, options, and fixed income products. Key Private Bank also leverages Charles River’s mobile solution for advisors, Charles River Anywhere.

“Adopting Charles River creates significant opportunities for Key Private Bank to scale our value-added investment solutions to our clients,” said Joe Calabrese, National Head of investment, Fiduciary and Banking Services at Key Private Bank. “This signals a new chapter in the evolution of our business, and we are excited that we can better serve our clients by trading in all security types while reducing risk and improving efficiency across our investment functions.”

“For firms like Key Private Bank, centralizing portfolio management and trading operations sets the stage for transformational growth,” said Randy Bullard, Global Head of Wealth, Charles River. “An enterprise, scalable platform that supports the needs of wealth managers is essential in today’s competitive marketplace.”

About Key Private Bank
Key Private Bank is a leading provider of wealth management solutions and advice for high-net worth and ultra-high-net worth clients, including wealth advisory, investment management, trust administration, customized credit, family office and private banking services. Key’s wealth management platform combines the market insights of local advisors with a national team of wealth and investment strategists to deliver proactive and personalized advice and expertise to clients. Advisors also leverage partnerships with Key’s business banking and capital markets teams to build wealth plans tailored to meet each client’s specific need. Key Private Bank’s wealth management platform is delivered across 15 of the United States. Key Private Bank has $40.8 billion in AUM and $43.0 billion in AUA at December 31, 2019.

About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River’s front and middle office investment management platform to manage more than US$30 Trillion in assets. Together with State Street’s middle and back office capabilities, Charles River’s software technology forms the foundation of State Street Alpha℠ platform. The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 975 employees in 11 regional offices. For more information, please visit www.crd.com. (Statistics as of January 2020)

About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $32.90 trillion in assets under custody and administration and $2.95 trillion* in assets under management as of September 30, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.

*Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $44 billion as of September 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.

 

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