Money managers in Boston were monitoring the security situation Monday following explosions that rocked the end of the Boston Marathon.
“State Street is monitoring the situation closely and is in touch with local, state and federal agencies,” according to a statement from State Street Corp. “We are presently operating business as usual, but obviously the safety and security of our employees is paramount. As the situation develops we will determine if business continuity procedures will be enacted. Additionally, we have alternate sites on standby should we need to transfer work to other locations.”
Alicia Curran Sweeney, State Street spokeswoman, said the company wouldn't comment further.
“We believe everyone at Old Mutual Asset Management is OK at this time, including the executive management team,” said Zach Kouwe, OMAM spokesman. “The office was on holiday because of the marathon, but OMAM’s office at Hancock Place, where the office is located, was evacuated for anyone who was working there.”
“We are safe,” said Michael Siciliano, senior vice president and head of sales and business development, North America, at Baring Asset Management. “Logistically, most money managers are in financial district although some may be in the Back Bay area where the explosions took place.”
Monday was Patriots' Day, a holiday in Massachusetts.
Powerful bombs killed two people and injured scores near the finish of the Boston Marathon, according to police and hospital officials. The explosions occurred as recreational runners were finishing, at 2:19 p.m. EDT Monday. The first blast near Copley Square caused a huge puff of white and orange smoke and was followed by a smaller one.
Bloomberg News contributed to this story.