PensPlan Appoints State Street for Investment Servicing Mandate
June 29 2009 - 9:30AM
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 PensPlan, a pension
fund service provider in Italy, to provide a range of investment
services for �100 million in assets.
Established as a complementary pension system to the public
schemes in Italy, PensPlan is based in the northern region of
Trentino-South Tyrol and delivers risk management, manager
selection and asset liability modeling to pension funds and
institutional investors throughout Italy. State Street�s operation
in Milan will provide PensPlan with custody and State Street�s
Amsterdam operations will provide fund administration, risk and
performance analytics services.
�State Street was able to provide us with a single and
customized solution that could accommodate our multi-jurisdictional
needs,� said Florian Schwienbacher, administration manager of
PensPlan. �With teams of expert resources in both Italy and
Amsterdam, it was the only provider that could service our complex
scheme.�
�With our global footprint and local expertise, we are
well-suited to provide PensPlan with a comprehensive offering,�
said Tim Caverly, executive vice president and head of sales and
business development for State Street�s investor services business
in Europe. �We look forward to providing them with additional
services as they continue to grow their membership across
Italy.�
With more than 60 investment servicing professionals located
throughout Italy and the Netherlands, State Street provides a range
of investor services such as custody, fund accounting, performance
and analytics and client reporting to a broad array of
institutional investors. State Street has been active in these
markets for more than 20 years and provides its customers with
dedicated multi-lingual and experienced client service teams who
understand local market practice.
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 $11.3 trillion in assets under custody and $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 web site at
www.statestreet.com.
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