State Street Global Advisors (SSgA) has acquired Bank of Ireland Asset Management (BIAM) for around €57 million, including net assets, Professional Pensions reports. As per the agreement, over 120 BIAM employees will join SSgA in Dublin. The purchase will also see the creation of State Street Global Advisors Ireland, which will be the 10th SSgA global investment centre. The acquisition will add new Dublin-based clients and employees, and managed assets, such as global fundamental active equities, fixed income, cash, asset allocation, property and balanced funds to SSgA.
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