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State Street to shut transition management in London

02 March 2017

The US bank said its operations will continue in Boston, Sydney and Singapore

Read more: State Street Cantor Fitzgerald Goldman Sachs Credit Suisse JP Morgan BNY Mellon

State Street has said it is closing down its transition management operations in London and Hong Kong at the end of the year due to dwindling demand for the service. 

The US bank said on Thursday it will cease the contracting and management of transitions in London, in addition to the execution and settlement functions in Hong Kong and London, in the second half of...