Invesco Ltd. is in talks with State Street about a merger with State Street Global Advisors, the Boston-based bank’s asset management business, according to a source quoted by Reuters.
The Wall Street Journal broke the news of a possible transaction, which would involve the State Street unit managing $4 trillion in assets, much of which is invested in its SPDR series of exchange-traded funds.
Last week, State Street said it is buying the investor services business of Brown Brothers Harriman for $3.5 billion.
In 2017, Invesco Ltd. agreed to purchase Guggenheim Partners’ ETF business in a $1.2 billion deal. And in 2018, it agreed to pay Massachusetts Mutual Life Insurance Co. about $5.7 billion to acquire its OppenheimerFunds, which specialized in picking stocks and bonds, particularly in the international arena.
Executives from LPL Financial, Cresset Partners hired for key roles.
Geopolitical tension has been managed well by the markets.
December cut is still a possiblity.
Canada, China among nations to react to president-elect's comments.
For several years, Leech allegedly favored some clients in trade allocations, at the cost of others, amounting to $600 million, according to the Department of Justice.
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