International Fund Services, State Street Corp.’s private equity and hedge fund administration unit, experienced “an unauthorized copying and transfer of certain data,” said a statement from spokeswoman Anne McNally.
The transfer involved an employee of an information technology subcontractor and was detected immediately, the statement said.
“There was no personal data relating to any of our clients, their employees or their investors included in the data, and we have no evidence to suggest that the contractor has misused, retained, shared with others or used the data in any manner,” State Street said.
IFS contacted all clients to notify them of the data transfer, and the company “implemented a number of additional control enhancements to mitigate the risk of future incidents,” State Street said.
State Street’s overall assets under administration totaled $1.195 trillion as of Dec. 31, according to eVestment.