State Street completes Irish acquisition

State Street Global Advisors (SSgA) has completed its acquisition of Bank of Ireland Asset Management (BIAM) for approximately €57 million, including an estimated €14 million in net assets. BIAM assets under management were approximately €26bn at the end of last year.

The acquisition will see 120 BIAM employees join SSgA in Dublin. The new operation, State Street Global Advisors Ireland, will be SSgA’s 10th global investment centre from which investment teams manage client assets.