State Street said it acquired Complementa Investment-Controlling AG, a Swiss supplier of investment performance measurement and analytics services.

Complementa, based in St. Gallen, Switzerland, helps institutions consolidate and measure performance of assets. The firm provides services to asset managers, banks, pension funds, family offices, insurance companies, foundations and trustees primarily in Switzerland and Germany.

Financial terms were not disclosed.

The acquisition also includes wholly-owned subsidiary Allocare AG, a provider of asset management software. Complementa’s HedgeAnalytics business is excluded from the transaction.

Benjamin Brandenberger, founder and Chairman of Complementa, and Michael Brandenberger, CEO and President of Complementa, will serve as board members. Andreas Joost, a member of the board, will take over as chief executive.

Complementa will be a wholly-owned subsidiary of State Street and will retain its name and identity.

State Street's existing Investment Analytics business serves approximately 1,400 clients with aggregate asset volumes exceeding $10 trillion. The unit helps clients monitor and measure the results of investment strategies in any market and in any asset class, including alternative investments.

State Street opened its original office in Zurich in 1998. In 2008, State Street acquired Deutsche Bank’s fund accounting operations in Switzerland. With the Complementa acquisition, State Street now employs approximately 200 professionals in Switzerland.

All told, State Street has $22.8 trillion in assets under custody and administration and $2.1 trillion in assets under management.

-- This article first appeared on Securities Technology Monitor.