Press release

LGIM appoints State Street to provide Charles River Technology and Middle Office Services

Legal & General Investment Management (LGIM) announces that it is extending its existing partnership with State Street by expanding its usage of Charles River technology and to deliver middle office servicing.

14 Jul 2021

Full press release

This appointment of State Street, as well as the expansion of our use of Charles River technology across a number of our investment management services in the UK, America, Asia and Europe will enable us to offer a more automated, consistent and seamless way for all our clients to do business with us from all over the world.

The main impact of this transaction will be to improve LGIM’s operational scalability – we expect it to be financially neutral. LGIM’s financial ambitions remain as stated in previous market guidance.

Brenda Sklar, Chief Operating Officer: "This continues our evolution of building a market-leading, scalable global operating model to deliver best in class service to our clients and make it easier for them to do business with us."

John Plansky, Head of State Street Alpha: "We are thrilled that LGIM is expanding its partnership with State Street to improve its global operating model by further leveraging Charles River and committing to our State Street Alpha services platform."

Notes to editors

Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

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