Saskatchewan Teachers' Superannuation Commission Appoints State Street to Provide Full Range of Custody Services
April 24 2006 - 10:30AM
Business Wire
State Street Corporation (NYSE: STT), the world's leading provider
of financial services to institutional investors, announced today
that State Street has been appointed to provide custody,
accounting, securities lending and compliance services for the
Saskatchewan Teachers' Superannuation Commission (STSC). The
Teachers' Superannuation Fund represents CAD1.7 billion in assets.
The Commission, which was established under The Teachers'
Superannuation and Disability Benefits Act and is sponsored by the
Province, administers pension, long-term disability, dental and
group life benefits for Saskatchewan teachers. "Throughout our long
due diligence process, State Street demonstrated an impressive
focus and commitment to meeting its customers' business and
technology needs," said Dave Barnard, executive director of the
STSC. "We are confident that State Street will offer operational
efficiencies and first-class customer service as we continue to
meet the needs of plan beneficiaries and people of Saskatchewan."
"We are very pleased to have earned the trust of the Commission,
and are looking forward to partnering with them," said Doreen
Rigby, managing director of State Street's investor services
business in Canada. "State Street's reputation for consistently
providing exceptional customer service continues to set us apart in
the Canadian market as we partner with several of Canada's leading
investment organizations." State Street established its Canadian
presence in 1990, opening its first office in Toronto. Today, with
more than 1,100 employees in offices located in Toronto, Montreal
and Vancouver, State Street provides services to a comprehensive
list of Canadian clients including: 8 of the 10 largest pension
plans, 8 of the 10 largest mutual fund complexes and 8 of the 10
largest institutional investment managers. 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 services. With $10.7
trillion in assets under custody and $1.5 trillion in assets under
management (as of March 31, 2006), State Street operates in 26
countries and more than 100 geographic markets worldwide. For more
information, visit State Street's Web site at www.statestreet.com.
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