State Street Acquires Askari To Offer Risk Tools To Institutional Clients


BOSTON--State Street has signed an agreement to purchase Askari, the New York-based risk management software and consultancy house. Terms of the deal were not disclosed, but the acquisition is expected to be completed by July 1. Askari's staff will all become employees of State Street Bank & Trust. Peter Davies, founder and president of Askari, will report directly to Ralph Vitale, an executive vice president in the bank's financial markets group, the area responsible for securities lending

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