Big client hits State Street with large withdrawals

January 27, 2016 2:59 PM

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BOSTON Jan 27 A key institutional client at State Street is expected to withdraw a large amount of money in 2016, Chief Executive Jay Hooley said on Wedesday.

"Institutional net outflows (in 2015) were primarily driven by client asset allocation shifts and redemptions by a client that is in-sourcing their business," Hooley told investors and analysts during a conference call. "Redemptions by this client are expected to continue through the remainder of 20...

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