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GE Completes Sale of GE Asset Management to State Street

Jul 01, 2016 - Business Wire

GE [NYSE:GE] today announced it has completed the sale of GE Asset Management (GEAM), the company's investment management arm, to State Street Corporation [NYSE:STT].

"As set forth in our announcement earlier this year about the planned sale of GE Asset Management, this transaction is consistent with GE's efforts to simplify its financial services portfolio and maximize value for shareholders," said GEAM Chairman, President and CEO Dmitri Stockton. "State Street is an excellent franchise a...