The Wall Street Journal: Invesco in merger talks with State Street’s asset-management business


Invesco Ltd. is in talks to merge with State Street Corp.’s asset-management business, people familiar with the matter said.

A deal isn’t imminent, and the discussions might not result in an agreement, the people said. It isn’t clear what the terms of a potential deal would look like, but it would be one of the industry’s biggest in recent memory, given State Street’s asset-management unit manages nearly $4 trillion in assets.

State Street

is one of the world’s largest custody banks, providing accounting and administrative services to other investment managers. The firm’s own investing unit, State Street Global Advisors, remains a leading seller of exchange-traded funds, the low-cost investing structure the firm pioneered.


oversees $1.5 trillion in assets and manages a large ETF business. It has a market value of about $11 billion, compared with roughly $32 billion for State Street.

An expanded version of this report appears on

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