EUROPE - ChevronTexaco has appointed State Street Corporation to provide financial services for its pension plans in Britain, the Netherlands, Ireland and Belgium.
State Street will provide global custody, investment accounting, securities lending and performance measurement for ChevronTexaco’s pension funds, which total $2bn in assets. State Street already services the corporation’s US pension plan, worth $7bn.
“We are delighted to build on our relationship with ChevronTexaco to service their European plans,” said Alasdair Reid, vice president and head of State Street’s dedicated asset owner servicing group in northern Europe, Africa and the Middle East.
“State Street continues to benefit from the growing trend of pension plans looking for fully-integrated service providers, and clients such as ChevronTexaco look to us for world-class service and global support.”
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