Davis Polk advised State Street Corporation (State Street) on bank regulatory matters in connection with its acquisition of GE Asset Management, Inc. from General Electric Corporation, which closed on July 1, 2016. The acquisition will add over $100 billion in assets to State Street’s approximately $2.3 trillion in assets under management.
Based in Boston, Massachusetts, State Street is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $27 trillion in assets under custody and administration and $2 trillion in assets under management as of March 31, 2016, State Street operates in more than 100 geographic markets worldwide, including the United States, Canada, Europe, the Middle East and Asia.
The Davis Polk regulatory team included counsel Christopher M. Paridon and associate Kelley L. O’Mara, who provided advice on a number of bank regulatory matters. Both members of the Davis Polk team are based in the Washington DC office.