Brown Brothers Harriman & Co. has agreed to sell its Investor Services business, including custody, accounting, fund administration, global markets and technology services, to State Street Corporation for $3.5 billion in cash. As of June 30, Brown Brothers Harriman’s Investor Services had $5.4 trillion in assets under custody, which will be added to State Street’s $31.9 trillion in assets under custody.
Brown Brothers Harriman is a privately-held, global financial services firm founded in 1818 and headquartered in New York City. It will continue to independently own and operate its separate Private Banking and Investment Management businesses.
The S&C team advising Brown Brothers Harriman includes Rodge Cohen, Stephen Salley and Kristin Deliso. Mehdi Ansari is advising on intellectual property matters. Heather Coleman is advising on executive compensation maters.
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