Charles River Development, a State Street company, has been appointed by Perpetual Group to manage front office operations for its Australian asset management business. Perpetual’s Australian asset management business will adopt Charles River IMS to manage its domestic and global portfolios, order and execution, compliance, post trade processing and front office data.
Perpetual completed the acquisition of Pendal Group in 2023 to cement its position as one of Australia’s largest multi-boutique asset managers, with total assets under management of AUD213.9bn. Pendal Group had been a long-term Charles River client in Australia, with a relationship since 2002.