Capital MSL brought in as world's second largest asset manager ups UK comms

International finance powerhouse State Street has bumped up its comms efforts in the UK by hiring Capital MSL to focus on its asset management business State Street Global Advisors.

State Street: Headquartered in Boston
State Street: Headquartered in Boston

A competitive pitch was held for the new retained brief as State Street Global Advisors (SSGA) seeks to make the most out of an evolving UK market.

Capital MSL will work alongside State Street’s incumbent agency Citigate Dewe Rogerson, which will continue to handle the rest of the company’s offering in the UK.

State Street's European PR manager Lucy Davidson said the new brief was about "reacting to a growth in business in the UK and continuing momentum around building our brand in the marketplace".

SSGA is the second largest asset manager in the world with $2.1 trillion (£1.3 trillion) in assets under management.

Claire Maloney, MD and head of Financial and Professional Services at Capital MSL, pointed to new regulations aimed at tightening up the provision of financial advice as indicative of the shifting UK market in which SSGA operates.

Maloney added SSGA was "incredibly well positioned to capitalise on the opportunities which regulatory, structural and demographic shifts are creating in the UK".

State Street has 9,000 employees throughout Continental Europe, Ireland and the UK.

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