Global asset manager AllianceBernstein (AB) has hired financial services provider State Street Corp. to offer investment operations outsourcing services. The services, which will cover more than $300 billion in client assets, will include trade settlement, portfolio administration and reconciliation, derivative operations, client reporting and performance evaluation for AllianceBernstein’s institutional accounts.

Following the mandate, nearly 100 staff members will move from AllianceBernstein to State Street to offer global servicing support. The alliance will also support AllianceBernstein in boosting operating efficiency and decrease operational risk, while giving it more time and energy to invest in its growing research and advisory services.

Click here for the release from Business Wire.