The deal also includes subsidiary Allocare AG, a Swiss asset management software provider; Complementa's HedgeAnalytics business was excluded from the transaction. The financial terms of the deal were not disclosed.
Complementa helps banks, asset managers, pension funds and others manage, consolidate and measure the performance of assets. It will be a subsidiary of State Street and will retain its name.
Benjamin Brandenberger, founder and chairman of Complementa, and Michael Brandenberger, chief executive and president of Complementa, will serve as board members. Andreas Joost, who is already a member of the Complementa managing board, will become CEO and manage Complementa's business.
In 2008, State Street acquired Deutsche Bank's fund accounting operations in Switzerland. With the Complementa acquisition, State Street has 200 employees in Switzerland.
