State Street Global Advisors had a $104 billion jump in new business during the first nine months of this year, lifting the firm's total assets under management to $1.2 trillion as of Sept. 30, Ron Logue, chairman and CEO, said in a news release. For the third quarter, AUM rose $9 billion.
Separately, SSgA parent State Street Corp. said it is in discussions to sell its majority interest in high-net-worth manager Bel Air Investment Advisors back to the firm's partners. Bel Air, with more than $4 billion in assets under management, represents State Street's last remaining interest in the high-net-worth business, the company said in a news release.
