U.S. Sen. Chris Murphy threw some high-profile recognition on Friday to a South Windsor restaurant to acknowledge its good food and its help to first responders during the coronavirus pandemic.
State Street Corp. agrees to pay $115 million in fraud case
By Jeremy C. Fox Globe Correspondent,Updated May 13, 2021, 2 hours ago
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State Street Corporation has entered into a deferred prosecution agreement and pledged to pay a $115 million criminal penalty to resolve charges that it conspired to defraud clients by secretly overcharging for expenses related to the bankâs custody of their assets, officials said Thursday.
The Boston-based global financial services company admitted that between 1998 and 2015 executives schemed to add secret markups to âout-of-pocketâ expenses charged to clients, despite written agreements that said State Street was not earning a profit, according to a statement from the US attorneyâs office.
SSGA promotes executive to head of global manager research
SSGA promotes executive to head of global manager research
Carrie Peluso
Carrie Peluso, managing director and head of client engagement for State Street Global Advisors, was given the additional role of head of manager research in the firm s global fiduciary solutions, which includes OCIO investments.
She retains her current role and also assumed portfolio management responsibility for and co-portfolio management of SSGA s institutional small-cap equity funds, spokesman Edward Patterson said in an email.
Ms. Peluso s co-portfolio manager is
Shawn McKay, vice president and senior investment strategist in the solutions business.
Ms. Peluso replaces
State Street looks at merger or sale options for SSGA
Goldman Sachs said to be shopping manager to big names in industry
Photo: Mike Blake/Reuters
One source said Chairman and CEO Ronald P. O’Hanley is ‘in a great position to be a consolidator.’
State Street Corp., Boston, is seeking to expand the investment management capabilities of State Street Global Advisors or possibly sell the asset management unit, which as of Sept. 30 reported $3.15 trillion in assets under management.
Industry sources who spoke on condition of anonymity confirmed that Goldman Sachs Group Inc. s New York-based investment banking unit has been discussing SSGA with potential acquirers, merger partners or collaborators, including Invesco Ltd., UBS Group AG and The Vanguard Group Inc.