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State Street to Buy G.E.'s Asset Management Business | Tony Seruga
Mar
30

State Street to Buy G.E.’s Asset Management Business

By

Jeffrey R. Immelt, the chairman and chief executive of General Electric. CreditMichael Dwyer/Associated Press

LONDON — General Electric said on Wednesday that it had agreed to sell its asset management business to the State Street Corporation in a transaction worth up to $485 million.

The deal for GE Asset Management is expected to increase the assets under management at the State Street Global Advisors investment management unit by about $100 billion at closing and strengthening its equity and fixed-income teams, State Street said in a news release

State Street to Buy G.E.’s Asset Management Business

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