PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey & Company announced the intention to form a new technology-led company, HUB, to build a cloud-based operating platform aimed at transforming asset managers’ operations technology.
The company selected Microsoft as its technology platform provider to empower HUB to develop its asset management operating platform on Microsoft Azure cloud.
HUB’s greenfield platform will be built by asset managers to transform the industry’s operating model by providing flexible and modular solutions across middle and back office functions, all while reducing cost and mitigating risks. The platform will accelerate the move to a digital operating model enabling asset managers to deliver innovative solutions to their clients both now and in the future.
HUB’s “data-first approach” will break down silos and friction between systems and data. This greenfield solution will utilize the latest cloud-based data technology and security to transform middle and back office operating processes, reducing costs associated with supporting numerous legacy systems and improving efficiencies by connecting to third parties.
We're excited to announce the launch of HUB, a tech company modifying operations technology for asset managers globally. By joining forces with @PIMCO, @ManGroup, @IHSMarkit, @Microsoft and @McKinsey, we will help HUB bring solutions to some of our industry’s biggest challenges.
— State Street (@StateStreet) January 7, 2021
Emmanuel Roman, CEO of PIMCO, said “Through this partnership, HUB will combine modern technology and infrastructure to streamline our middle and back office functions and feed data to every part of our business including distribution and analytics. This technology platform forms a core component of our broader strategy which combines technology with portfolio management and client service excellence to provide investors with investment solutions.”
Luke Ellis, CEO of Man Group, added “Man Group has invested heavily in developing our own proprietary technology infrastructure for many years now. Collaborating on this initiative with such great partners has allowed us to leverage our expertise with a view to helping transform the asset management industry’s operational architecture, which ultimately allows for better servicing of clients’ needs.”
Lance Uggla, Chairman and CEO of IHS Markit, commented “HUB represents a fantastic opportunity for the asset management industry to reimagine its operating model. With a greenfield approach to developing the platform, HUB will address many of the operational challenges facing asset managers today. We are excited to be part of this transformative joint venture that brings together the insights of our partners with IHS Markit’s commitment to enabling the success of the industry.”
Ron O’Hanley, Chairman and CEO of State Street, said “HUB promises to bring innovative solutions to important investment industry challenges. State Street is excited to partner with PIMCO, Man Group, IHS Markit, Microsoft and McKinsey and we are committed to supporting HUB with our Alpha and custody platforms.”
Judson Althoff, Executive Vice President of Microsoft’s Worldwide Commercial Business, commented “We are excited that HUB’s new asset management industry platform will be powered by Azure. By harnessing the Microsoft cloud with the HUB platform to deliver operational efficiencies to our clients, Microsoft continues to drive innovation in the broader capital markets industry ecosystem.”
Jared Moon, Senior Partner, McKinsey & Company, added “McKinsey is excited about the opportunity to bring industry insights on asset management and expertise from Leap by McKinsey, its business building practice to HUB. We believe this new platform for Asset Managers will create value for the industry and McKinsey is honored to be a partner in this venture to support the creation of HUB.”
Financial terms were not disclosed.
Source: HUB
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
It's been a month since we had our Women In Finance Awards in New York City at the Plaza! Take a look back tab some moments, and nominate for our upcoming awards in Mexico City and Singapore here: https://www.marketsmedia.com/category/events/
4
Citadel Securities told the SEC that trading tokenized equities should remain under existing market rules, a position that drew responses from various crypto industry groups. @ShannyBasar for @MarketsMedia:
SEC Commissioner Mark Uyeda argued that private assets belong in retirement plans, saying diversified alts can improve risk-adjusted returns and that the answer to optimal exposure “is not zero.” @ShannyBasar reporting for @MarketsMedia:
COO of the Year Award winner! 🏆
Discover how Jennifer Kaiser of Marex earned the 2025 Women in Finance COO of the Year recognition.
Related articles
-
The commercial paper deal is one of the earliest debt issuances on a public blockchain.
-
This includes modernizing e-delivery rules and expanding pathways to qualify as accredited investors.
-
This partnership is a new significant milestone for Fund Channel in Asia.
-
The US fixed income market has expanded beyond traditional benchmarks.
-
Ondo Finance's OUSG will be anchor investor, unlocking greater 24/7 liquidity access.
We're Enhancing Your Experience with Smart Technology
We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] Please review our updated Terms & Conditions and Privacy Policy carefully. By continuing to use our services after Aug 25, 2025, you agree to these
