State Street's Securities Finance Team Expands Global Presence
August 14 2007 - 9:19AM
Business Wire
State Street Corporation, (NYSE: STT), the world's leading provider
of financial services to institutional investors, announced today
that it has expanded its securities finance operations in Ireland,
Japan and Singapore. State Street will now offer securities lending
services in Dublin and provide additional service offerings from
its Tokyo and Singapore offices. Maurice Leo, who was recently
appointed managing director for State Street�s securities finance
team, will oversee the division�s product sales and account
management activities in Dublin serving the Irish offshore and
Middle Eastern markets. State Street has also become the only
global securities lending agent with dedicated, full service
securities finance capabilities in Asia with the addition of an
operations group in its existing securities finance office in
Tokyo. State Street has also expanded its client service offerings
in Asia with the placement of Patsian Low, vice president, in
Singapore. Patsian will oversee the securities finance business and
market development activities in the region (ex-Japan). The
division�s capabilities within the region now include two trading
desks (one in Tokyo and one in Sydney), sales, account management
and operations functions. With this expanded presence, State Street
is a market leader in securities lending in Asia. �Expanding our
capabilities in these three geographies reflects the strategic
importance of these growing markets for our customers,� said Craig
Starble, executive vice president and head of securities finance at
State Street. �We look forward to broadening our existing
securities finance relationships, winning additional business and
expanding our overall product offerings.� With more than $3
trillion in lendable assets and nearly $700 billion in assets
on-loan, State Street is a market leader in securities finance. It
serves more than 400 customers and 150 borrower relationships
worldwide from 13 locations in North America, Europe and
Asia-Pacific. For more information about State Street�s securities
lending program, visit www.statestreet.com/securitiesfinance. State
Street Corporation (NYSE: STT) is the world's leading provider of
financial services to institutional investors, including investment
servicing, investment management and investment research and
trading. With $13.0 trillion in assets under custody and $1.9
trillion in assets under management at June 30, 2007, State Street
operates in 26 countries and more than 100 geographic markets
worldwide. For more information, visit State Street�s website at
www.statestreet.com.
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