LONDON--(BUSINESS WIRE)--Oct. 4, 2004--State Street Corporation
(NYSE: STT), the world's leading provider of services to institutional
investors, announced today that it had been selected to provide
investment services to The Clore Duffield Foundation, a charitable
organisation with assets of GBP 63 million. State Street will provide
the foundation with global custody and fund accounting services, and
The WM Company (WM), a State Street business, will provide performance
measurement services.
"We are very pleased to be working with State Street," said Dame
Vivien Duffield, who chairs the foundation. "State Street was able to
offer a package of services which proved very attractive to us, and we
look forward to a long and successful partnership with them."
WM provides a specialist Charity Fund Service, the most
comprehensive service of its type, which provides rates of return and
asset mix information on charity investment portfolios. The service
will help the Foundation to benchmark its performance against a
universe of over 300 charity funds with a combined market value of
nearly GBP 8 billion - close to 60 percent of the total charity fund
market in the UK.
"We are delighted to establish this relationship with The Clore
Duffield Foundation," said Alasdair Reid, State Street's head of UK
sales. "We have a very significant presence in the charity sector, and
winning this mandate highlights our commitment to build upon that
presence and provide charities with an attractive range of
specialised, strongly supported products."
The Clore Duffield Foundation is a grant-giving Foundation with a
particular interest in supporting children, young people and society's
most vulnerable individuals, through the charities which work to
educate, inspire, empower or care for them.
State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and trading.
With $9.1 trillion in assets under custody and $1.2 trillion in assets
under management, State Street operates in 24 countries and more than
100 markets worldwide. For more information, visit State Street's Web
site at www.statestreet.com.
The WM Company, based in Edinburgh, London, Amsterdam and Zurich
is a wholly owned subsidiary of State Street Corporation and is one of
the world's leading investment performance measurement companies. WM
measures over 6,000 investment portfolios based in the key global
investment centres and provides an extensive range of services to
support better investment decisions. For more information, visit
www.wmcompany.com.
This news announcement contains forward-looking statements as
defined by United States securities laws, including statements about
the financial outlook and business environment. Those statements are
based on current expectations and involve a number of risks and
uncertainties, including those related to the pace at which State
Street adds new clients or at which existing clients use additional
services, the value of global and regional financial markets, the pace
of cross-border investment activity, changes in interest rates, the
pace of worldwide economic growth and rates of inflation, the extent
of volatility in currency markets, consolidations among clients and
competitors, State Street's business mix, the dynamics of markets
State Street serves, and State Street's success at integrating and
converting acquisitions into its business. Other important factors
that could cause actual results to differ materially from those
indicated by any forward-looking statements are set forth in State
Street's 2003 annual report and subsequent SEC filings. State Street
encourages investors to read the Corporation's annual report,
particularly the section on factors that may affect financial results,
and its subsequent SEC filings for additional information with respect
to any forward-looking statements and prior to making any investment
decision. The forward-looking statements contained in this press
release speak only as of the date hereof, October 4, 2004, and the
Corporation will not undertake efforts to revise those forward-looking
statements to reflect events after this date.
CONTACT: State Street CorporationHannah Grove, 617-664-3377
or
Carolyn Cichon, 617-664-8672
SOURCE: State Street Corporation