- September 16, 2021
- Posted by: Stratford Team
- Category: Business
A deal isn’t imminent, and the discussions might not result in an agreement, the people said. It isn’t clear what the terms of a potential deal would look like, but it would likely be one of the industry’s biggest in recent memory, given State Street’s asset-management unit manages nearly $4 trillion in assets.
State Street is one of the world’s largest custody banks, providing accounting and administrative services to other investment managers.
The firm’s own investing unit, State Street Global Advisors, remains a leading seller of exchange-traded funds, the low-cost investing structure the firm pioneered.
Invesco oversees $1.5 trillion in assets and manages a large ETF business.
It has a market value of about $11 billion, compared with roughly $32 billion for State Street.
In a sign of potential investor enthusiasm for such a tie-up, Invesco shares rose more than 8% in…