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Hogan Lovells advises Allianz Global Investors on EUR 450 billion AUM global outsourcing

07 February 2017

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Adam Leviton

Public Relations Manager (Transactions)
+44 20 7296 5299

London, February 7, 2017 - Hogan Lovells has advised Allianz Global Investors (AllianzGI) on the global outsourcing of investor services to State Street for its entire fund range covering more than €450 billion in assets under management. This significant outsourcing transaction has developed AllianzGI and State Street's existing relationship into a strategic global partnership. Its global breadth and scope covering the United States, Europe and Asia Pacific makes it one of the largest transactions of its kind.

This transaction consolidates a wide spread of services, including depository and trustee services, global custody, transfer agency, share class hedging and data consolidation services. The mandate remains subject to approvals of applicable funds’ boards as well as customary regulatory approvals.

The Hogan Lovells' London-based core team was led by Rachel Kent, Global Head of Financial Institutions, supported by Angela Greenough, Counsel, and Joy Bristow, Associate, working hand in hand with AllianzGI's in-house legal team led by Thomas Schindler, General Counsel Europe, and Jorge Solis Velasco, Assistant General Counsel Europe.  They managed and co-ordinated advice from Hogan Lovells' offices across the globe.

Commenting on the transaction, Rachel Kent, said: "This matter had significant practical and multi-jurisdictional challenges.  The successful result demonstrates our capacity to undertake an extremely complex global corporate outsourcing transaction, with input from a range of practice areas across the firm. We are delighted to have acted for AllianzGI in this capacity on such a significant transaction for a key client."

Thomas Schindler said: "The transaction is the result of a seamless and efficient collaboration between the Legal side and the involved business functions of our global franchise".

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