State Street subsidiary Charles River Development has been tapped by Perpetual Group to manage its front office operations for the firm’s Australian asset management business.
Perpetual’s Australian asset management business will adopt the Charles River Investment Management Solution (Charles River IMS) to manage its domestic and global portfolios, order and execution, compliance, post trade processing and front office data.
Perpetual Group chief operating officer (COO) Craig Squires said, “This is an important partnership that ensures the streamlining and simplification of front office operations within Australia on a single OMS platform with Charles River.”
“Charles River has proven solutions supporting multi-boutique businesses like Perpetual. Its multi-asset capabilities, particularly across Australian and global fixed income markets, is critical for us to grow our business globally,” Squires added.
Dennis Baillon, director of business development, APAC, Charles River, said, “To be successful in today’s market, managers need a platform that provides flexibility in their operating environment and enables them to scale as their business requires.”
Perpetual, which completed the acquisition of Pendal Group in January 2023 claims total assets under management of A$213.9 billion as of 31 December 2023. Pendal Group had been a long-term Charles River client in Australia, with a relationship since 2002.
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