Columbia Threadneedle Outsources Back Office Operations to State Street

Columbia Threadneedle Investments has entered into a strategic partnership with State Street Corporation, outsourcing its global back-office operations for pooled funds across the U.S. and Europe. The agreement encompasses fund accounting, administration, and custody services, leveraging State Street's extensive infrastructure and expertise.

In North America, the transition will consolidate Columbia Threadneedle's U.S. fund operations under State Street's umbrella, with over 100 employees expected to transfer roles. Europe will see further integration of UK and Luxembourg-based funds, building on an existing long-term relationship between the firms.

"This operational enhancement is central to our growth strategy," said David Logan, Head of EMEA and Global Business Operations at Columbia Threadneedle. The MOVE reflects asset managers' increasing focus on operational efficiency amid growing competition in traditional and digital asset markets.