State Street To Roll Out Real-Time Portfolio Mobile App

Jul 22 2011 | 11:28am ET

State Street Corp. is hoping to make it a little easier for hedge fund managers to leave their desks.

The firm is creating an application for mobile devices that will allow hedge fund managers and others real-time portfolio information. The app, State Street Springboard, will be available in Apple Inc.'s App Store later this year for the company's iPhone, iPad and other devices.

"The iPad is creeping into every part of the industry, and it is part of our effort of continuing to push the envelope on what the customers are looking for," CEO Joseph Hooley said.

Hooley explained that State Street hopes the app will help it win new business.

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