State Street Appointed to Service CAD $300 Million in Assets for McCain Foods Limited
November 13 2009 - 10:00AM
Business Wire
State Street Corporation (NYSE: STT), one of the world’s leading
providers of financial services to institutional investors, today
announced that it has been appointed by the McCain Foods Limited
Canadian pension plans to provide custody, accounting, benefit
payments, and investment analytics.
“State Street has a longstanding reputation as a premier
provider of investment servicing solutions,” said David O’Brien,
Vice President & Group Treasurer and the officer responsible
for McCain’s global pension function. “The advanced technology and
superior customer service and analytics capabilities provided by
State Street will introduce significant efficiencies to our
benefits servicing program.”
McCain Foods Limited has offered pension benefits to its
Canadian employees since shortly after its founding in the 1950s.
The McCain Foods Limited Canadian pension plans currently
administer more than CAD $300 million in assets.
“We are very pleased that the McCain Foods Canadian pension
plans selected State Street for its investment servicing needs,”
said Ron Robertson, senior vice president and managing director of
State Street’s investment servicing business in Canada. “This new
mandate reflects our commitment to providing a wide range of
investment services that are customized to the unique needs of each
customer.”
State Street has provided solutions to Canada’s financial
services community for more than twenty years. 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 McCain Foods Limited
McCain Foods Limited is a Canadian family-owned food processor
and marketer with fifty-four factories located in fourteen
countries and on all six continents. Annual global sales total
approx. CAD6.5 billion. Its twenty-two thousand employees
participate in McCain pension plans in more than forty countries.
Among other things, McCain is the world’s largest producer of
frozen french fries.
About State Street Corporation
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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