State Street Appointed to Service $2.2 Billion in Assets for Saskatchewan Teachers’ Federation
November 02 2009 - 12:00PM
Business Wire
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors,
announced today that it has been appointed by the Saskatchewan
Teachers’ Federation to provide a range of investment services for
CAD$2.2 billion in pension and group benefit fund assets. State
Street will provide custody, fund accounting, and securities
lending services to the Federation.
“State Street’s proven track record of delivering superior
service with advanced technology was the critical factor in our
decision,” said Gwen Dueck, general secretary of the Saskatchewan
Teachers’ Federation. “Efficient, cost-effective servicing is vital
to the operations of our pension, disability, and health benefit
funds, and we look forward to a long and productive relationship
with State Street.”
State Street is a leading provider of investment services to
public funds and provides services to the 10 largest pension plans
in Canada.
“We are delighted to be awarded this mandate by the Saskatchewan
Teachers’ Federation,” said Kevin Drynan, president of State Street
Trust Company Canada. “This appointment reflects our long-standing
commitment to delivering state-of-the-art technology and superior
service to our public funds customers.”
With more than 1,200 employees in Toronto, Montreal and
Vancouver, State Street provides a broad array of services to many
of Canada’s leading institutional investors.
About the Saskatchewan Teachers’ Federation
The Saskatchewan Teachers’ Federation (STF) is the professional
organization representing over 12,000 elementary and secondary
school teachers in publicly funded schools in Saskatchewan.
About State Street
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $17.9 trillion in assets
under custody and administration and $1.7 trillion in assets under
management at September 30, 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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