State Street Secures $60 Billion Investment Servicing Mandate from Oregon State Treasury
May 02 2005 - 10:02AM
Business Wire
Highlights State Street's Position as Leading Provider of Services
to Public Funds in the United States State Street Corporation
(NYSE:STT), the world's leading provider of services to
institutional investors, announced today that it has been retained
by the Oregon State Treasury (Oregon) to provide a variety of
investment services for $60 billion in assets. State Street will
provide custody, accounting, securities lending, performance and
analytics, and transition management services. The Oregon State
Treasury has been a State Street customer for more than eight
years. "Over the course of our relationship, we continue to receive
outstanding client service from State Street's team of
professionals," said Oregon State Treasurer Randall Edwards. "We
chose to partner with State Street because of its ability to
anticipate and deliver a broad spectrum of solutions to suit our
needs." State Street currently services approximately 45 percent of
the public fund business in the United States, through its
dedicated public fund team, with customers in 33 states and the
District of Columbia, Puerto Rico and the U.S. Virgin Islands.
"Because of our deep commitment to the public funds market, we have
cultivated longstanding relationships with our customers, such as
the State Treasury of Oregon," said Lee Jones, senior vice
president of head of State Street's public fund business in the
United States. "With more than two decades of unwavering focus on
the needs of these customers, our proven ability to deliver
superior service highlights our position as the provider of
choice." State Street has an extensive track record in providing
investment solutions for public funds. In addition to the Oregon
State Treasury, State Street has retained and/or secured new
relationships through a competitive bidding process with a number
of public funds including the State of Connecticut, Illinois State
Board of Investments, North Carolina Department of the State
Treasurer, Minnesota State Board of Investment, the Employees'
Retirement System of the State of Hawaii, the Teacher Retirement
System of Texas, Texas Municipal Retirement Fund, the Ohio Public
Employees Retirement System and the Retirement System of Alabama.
About State Street State Street Corporation (NYSE: STT) is the
world's leading specialist in providing institutional investors
with investment servicing, investment management and investment
research and trading. With $9.5 trillion in assets under custody
and $1.4 trillion in assets under management as of March 31, 2005,
State Street operates in 25 countries and more than 100 markets
worldwide. For more information, visit State Street's Web site at
www.statestreet.com. About the Oregon State Treasury The Oregon
State Treasury is a highly sophisticated organization with a wide
range of financial responsibilities, including managing the
investment of state funds, issuing all state bonds, serving as the
central bank for state agencies, and administering the Oregon 529
College Savings Network. The Treasury is managed like a business,
striving to save taxpayers money and earn the highest possible
return on investments. The Treasury consists of six main divisions:
finance, investment, debt management, Oregon 529, information
services, and executive. For more information, visit
www.ost.state.or.us.
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