State Street Garners High Marks in Trustee / Depositary and Global Custody Surveys
January 11 2010 - 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 received strong results in two independent
customer surveys: Global Custodian magazine’s annual Global Custody
survey and R & M’s 2009 UK Unit Trust Trustee and OEIC
Depositary survey.
State Street was ranked No. 1 in the R & M 2009 UK Unit
Trust Trustee and OEIC Depositary survey, which measures customer
satisfaction with trustee services provided by independent trustees
of United Kingdom Unit Trusts and Open-Ended Investment Companies
(OEICs). In Global Custodian magazine’s 18th annual Global Custody
survey, State Street placed No. 2 overall. The survey reflects
institutional investors’ and fund managers’ assessment of custodian
performance across a range of service categories including
relationship management, client service and technology.
“These results are particularly gratifying in view of our
commitment to providing customers with a consistently high level of
service,” said Joe Antonellis, vice chairman of State Street. “We
know that delivering customer satisfaction requires diligence and
innovative thinking in every area from technology to professional
relationships.”
Among sub-categories in the Global Custodian survey, State
Street was ranked No.1 by clients with over $10 billion in custody.
It also garnered six top ratings for high scores in individual
service categories.
In the R & M UK Unit Trust Trustee and OEIC Depositary
Survey, State Street advanced to the top ranking. It was the only
provider in the survey to see its score increase from 2008.
“We are honored to receive this recognition for our UK trustee
services,” said Steve Smit, head of State Street’s Investor
Services business in the United Kingdom, Middle East and Africa.
“State Street’s top ranking is a result of intensive efforts to
bring our customers a superior level of service based on a
proactive partnership approach and strong technical expertise.
Trustee services are a core part of State Street’s offering to
asset managers in the UK.”
Questionnaires covering 29 different aspects of service were
completed by fund managers as well as unit holders. Survey
respondents were asked to rate trustees in categories ranging from
the knowledge level of key personnel to online reporting
capabilities. R & M has conducted the survey for the past seven
years.
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 website at
www.statestreet.com.
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