Bank of Ireland says it has completed the sale of Bank of Ireland Asset Management to State Street Global Advisors for €57m. The deal was first announced in October.
The bank said all the conditions for the sale have been completed, including the transfer of key personnel. It added that it represents a significant milestone for the bank in relation to the execution of Its EU restructuring plan.
Total BIAM assets under management at the end of December were about €26 billion. It employs about 120 people.
State Street has about 2,000 workers here and has offices in Dublin, Drogheda, Kilkenny and Naas.
