T. Rowe Price has announced its transition to Charles River’s cloud-based investment management solution (IMS) for portfolio management, trading and compliance.
The company is also adopting the State Street Alpha Data Platform (ADP) for data management and services.
T. Rowe Price is part of Charles River’s client advisory board, providing strategic input and advice on products and services.
Marc Wyatt, head of global trading at T. Rowe Price, said: “Charles River’s cloud-based solution will allow us to accelerate access to their new product offerings. Based on our business strategy, making this transition to the cloud is a logical next step.”
Matt Daly, chief revenue officer at Charles River Development, commented: “Our clients’ strategic investment to align with Charles River IMS’s cloud-based platform provides flexibility to simplify their business models while expanding product offerings, supporting future growth, and keeping pace with market volatility, margin compression, and industry consolidation.”
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