Perpetual goes with Charles River to manage AM front office

Perpetual Group has appointed State Street company, Charles River Development, to manage the front office operations for its Australian asset management business.

Charles River Development announced the arrangement today saying Perpetual’s Australian asset management business would adopt the Charles River Investment Management Solution to manage its domestic and global portfolios, order and execution, compliance, post trade processing and front office data.

Charles River had held Pendal Group as a long-term client in Australia and Perpetual completed its acquisition of Pendal in January, last year.

Perpetual Group Chief Operating Officer Craig Squires said, “This is an important partnership that ensures the streamlining and simplification of front office operations within Australia on a single OMS platform with Charles River.”

In doing so, Squires said the basis of the decision went beyond the previous long-term partnerships to address the current challenges and complexities of the evolving investment management landscape.

“Charles River has proven solutions supporting a multi-boutique business like Perpetual. Its multi-asset capabilities, particularly across Australian and global fixed income markets, are critical for us to grow our business globally,” he said.