State Street Appointed by CIGT to Provide Custody Services for China Insurance (Holdings) Co Ltd.’s Operations in Hong Kong
June 02 2009 - 12:07PM
Business Wire
State Street Corporation (NYSE: STT), the world�s leading
provider of financial services to institutional investors,
announced today that it has been appointed by CIG Trustees Limited
(CIGT) to provide custody services for its asset portfolio.
CIGT is an indirect associate of China Insurance (Holdings)
Company Limited (CIHC). The principal activity of CIGT is the
provision of trust services to CIHC and its subsidiaries. CIHC is a
state-owned insurance company operating life and non-life insurance
businesses in China and overseas markets.
State Street will provide custody services for CIGT from its
operations centre in Hong Kong, including safekeeping of assets,
settlements, corporate actions, income collection and tax
reclaims.
�The custody services State Street offered us were central to
our trusts management. We are pleased to appoint State Street as
our custodian and confident that we can form a strong partnership
in the months and years ahead,� said an executive from CIGT.
�State Street is a recognized leader in investment servicing and
we are delighted to provide a broad range of services to CIGT. With
our global expertise and solid experience, we continue to see
increased demand for our services from institutional investors and
we believe these attributes will be key factors in our success in
maintaining customers� trust in the Asia Pacific region,� said KK
Tse, executive vice president and head of State Street�s investment
servicing business in Asia-Pacific.
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 US$11.3 trillion in assets under custody and
US$1.4 trillion in assets under management at March 31, 2009, State
Street operates in 27 countries and more than 100 geographic
markets worldwide. For more information, visit State Street�s
website at www.statestreet.com.
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