LONDON: International finance powerhouse State Street has boosted its communications efforts in the UK by hiring Capital MSL to focus on its asset-management business, State Street Global Advisors.
It held a competitive pitch for the account as State Street Global Advisors seeks to make the most out of an evolving UK market.
Capital MSL will work with State Street's incumbent agency, Citigate Dewe Rogerson, which will continue to handle the rest of the company's services in the UK.
State Street European PR manager Lucy Davidson said the account's goal is “reacting to a growth in business in the UK and continuing momentum around building our brand in the marketplace.”
State Street Global Advisors is the second-largest asset manager in the world with $2.1 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 State Street Global Advisors operates.
She added that SSGA was “incredibly well positioned to capitalize on the opportunities that regulatory, structural, and demographic shifts are creating in the UK.”
State Street has 9,000 employees throughout Continental Europe, Ireland, and the UK.
This story originally appeared on the website of PRWeek UK.