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State Street expands relationship with Babson Capital

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State Street is expanding its relationship with Babson Capital Management to provide investment operations and technology services.

It builds on State Street’s existing relationship with Babson Capital whereby State Street has provided custody, trustee, private equity and hedge fund services since 2001.

"As we expand domestically and globally, enhancing our relationship with State Street is an ideal opportunity for our clients and our firm," says Thomas M. Finke, chairman and chief executive officer of Babson Capital. "Leveraging State Street’s expertise in global operations services will allow us to improve access to data, decrease reliance on multiple internal systems, take advantage of new developments in technology, and achieve greater overall operating efficiency. This will allow us to focus more on providing our clients with exceptional service and performance results and on developing our future growth strategies."

"We are pleased that Babson Capital has chosen State Street for the needs of its expanding global business," adds Jeff Conway (pictured), executive vice president and head of investment operations servicing and new business integration at State Street. "As the financial markets become more complex, the technology systems required to maintain and develop new investment strategies has increased substantially. Our experience in providing scalable solutions for asset managers’ investment operations helps them create additional efficiencies to achieve their growth objectives."

Babson Capital Management and its subsidiaries serve institutional investors around the globe and have USD128.9bn in assets under management as of 30 June 2010.

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