UK - State Street Corporation has been appointed by the £600m Tate & Lyle Group Pension Scheme to provide global custody and investment accounting services.
The mandate was previously held by Deutsche Bank Global Securities Services which was bought by State Street in November last year
Commenting on the award, Viv Tierney, financial controller and secretary to the trustee of Tate & Lyle, said: “After a thorough review of the major providers, we selected State Street as we felt they were best placed to meet our particular requirements.
“We also value State Street’s commitment to continuing to grow and expand in Europe over the long term.”
State Street now services or manages money for some of Europe’s largest pension funds including, ABP, the pension fund for Dutch civil servants; the second Swedish national pension fund AP2; Siemens and Volkswagen in Germany, and the Icelandic pension fund for state employees, the Lifeyrissjodur Starfsmanna Rikisins.
Globally, the Boston headquartered firm now has some US$5.7trn in assets under custody and US$707bn in assets under management.
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