Bloomberg: State Street exploring sale or merger options for SSGA

State Street Corp. is exploring options for its asset management business, including a merger with a competitor, as it seeks to gain scale, people familiar with the matter said.

The Boston-based firm has been informally working with an adviser to review strategic alternatives for the unit, known as State Street Global Advisors, according to the people. It has evaluated potential combinations with the asset management operations of rivals including Invesco Ltd. and UBS Group AG, the people said, asking not to be identified because the information is private.

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