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.
State Street Corporation
Carolyn Cichon, 617-664-8672
