State Street’s Charles River is set to manage the front-office operations for Perpetual Group’s Australian asset management business.
Tim Helyar
Dennis Baillon, director of business development for APAC at Charles River, asserted: “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.”
Specifically, Perpetual’s Australian asset management business is set to adopt Charles River’s investment management system (IMS) which will manage its domestic and global portfolios, order and execution, compliance, post-trade processing and front-office data.
Craig Squires, group chief operating officer at Perpetual, explained that the decision came as the business sought to address current challenges and complexities across investment management.
“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 business like Perpetual. Its multi-asset capabilities, particularly across Australian and global fixed income markets, is critical for us to grow our business globally.”
Read more: Perpetual merges regional asset management businesses under one global umbrella
Last January, Perpetual grew its footstep in Australia through the acquisition Pendal Group – establishing itself as one of Australia’s largest multi-boutique asset managers, with A$213.9 billion AUM as of 31 December 2023.
Tim Helyar, country head for Australia at State Street, said: “Given their commitment to being a truly global asset management business, Charles River’s and State Street’s global network and expertise is a natural fit. We are pleased to extend Charles River into Perpetual’s Australian asset management front office.”