State Street Bolsters Global Relationship with Aberdeen Standard Investments By Servicing ETF Funds
June 01 2021 - 8:30AM
Business Wire
State Street Corporation (NYSE: STT) today announced an
expansion of its relationship with Aberdeen Standard Investments
(ASI) by being appointed the service provider for two of the firm’s
ETF funds. These two ETF funds have converted from being serviced
by another provider to State Street in order to better control
costs and maximize efficiencies.
“Our growing relationship with Aberdeen Standard Investments
underscores State Street’s differentiated leadership in the ETF
space,” said Frank Koudelka, global ETF product specialist at State
Street. “State Street’s innovative approach to ETF servicing will
empower Aberdeen to not only expand its ETF franchise domestically
and globally, but also create new efficiencies through provider
consolidation.”
This milestone builds on State Street’s reappointment as ASI’s
complete back-office servicing provider which includes global
custody, accounting and fund administration for ASI’s fund ranges
in the United States and Canada. Through the conversion of the two
ETF funds, State Street will now provide the full scope of ETF
servicing, including custody, fund accounting, basket
creation/settlement, order-taking, transfer agency and regulatory
reporting to ASI.
“We view State Street as not only a service provider, but as a
partner, because of its industry leadership and demonstrated
expertise in servicing ETFs,” said Chris Demetriou, CEO-UK, EMEA
& Americas at Aberdeen Standard Investments. “We are pleased to
continue to grow our partnership with State Street through their
support of our ETF franchise.”
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 $40.3 trillion in assets
under custody and/or administration and $3.6 trillion* in assets
under management as of March 31, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
* Assets under management as of March 31, 2021 includes
approximately $60 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2021 State Street Corporation - All Rights Reserved
3603723.1.1.GBL.RTL
Expiration date: 12/31/2021
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version on businesswire.com: https://www.businesswire.com/news/home/20210601005569/en/
Media Contacts:
State Street Brendan Paul bpaul2@statestreet.com
+1-401-644-9182
Aberdeen Standard Investments Guy Nicholls
guy.nicholls@aberdeenstandard.com +1-215 687 8049
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