State Street Corporation announced today that it has been appointed by Columbia Threadneedle Investments, the global asset management arm of Ameriprise Financial, Inc., to provide expanded fund accounting, administration, and custody services for the firm’s pooled funds, including ETFs, in both the US and Europe, covering $431 billion in assets.

“We have enjoyed a successful decades-long relationship with Columbia Threadneedle and look forward to helping them continue their commitment to operational excellence and expanding our services to support the next phase of their growth,” said Joerg Ambrosius, president of Investment Services at State Street. “As leading asset managers look to build scale and expand into new markets, we are ready to provide them with full-service solutions.”

State Street has a long history of servicing Columbia Threadneedle’s legacy mutual funds, dating back to the 1990s. The firm also provides back and middle-office support following Columbia Threadneedle’s acquisition of BMO Financial Group’s EMEA Asset Management business in 2021.

State Street Expands Partnership with Columbia Threadneedle

As part of the expanded mandate, more than 100 Columbia Threadneedle employees providing fund accounting and administration services to US pooled funds are going to transfer to comparable roles at State Street, ensuring continuity and leveraging their expertise.

In Europe, the firm will further consolidate fund accounting, administration, depositary, and custody services for its UK and Luxembourg-based pooled funds with State Street. This move builds on a long-standing partnership between the two firms and strengthens operational efficiency across multiple jurisdictions.

“We are happy to expand our relationship with State Street as they support our growth agenda, providing valuable and scalable expertise, capabilities, and resources,” said David Logan, Head of EMEA and Global Business Operations at Columbia Threadneedle. “Our partnership will provide continuity of services to our clients and support our continued focus on client service excellence.”

This expanded collaboration underscores the evolving role of custody and fund administration providers in supporting global asset managers as they scale operations, enter new markets, and enhance client service capabilities.

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