Technology
Digital Digest: The Latest Tech News – State Street, HCLTech
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The latest technology news in the wealth management sector from around the world.
State Street
State Street,
the New York-listed financial conglomerate, is putting finishing
touches on plans to take full ownership of State Street HCL
Services, the JV it has held with India-headquartered
HCLTech.
This consolidation, which is based on arrangements aligned with
the existing JV agreement, is expected to be completed in the
second calendar quarter of 2024. The change will simplify State
Street’s operations, the firm said in a statement.
State Street has partnered with HCLTech for more than a
decade.
“This integration is a natural evolution of our successful
relationship with HCLTech, which remains a strategic technology
partner,” Mostapha Tahiri, executive vice president and incoming
State Street chief operating officer, said.
