BOSTON--(BUSINESS WIRE)--Sept. 27, 2005--State Street Corporation
(NYSE:STT), the world's leading provider of services to institutional
investors, announced today that it has been retained by the State of
Connecticut to provide a wide range of investment services including
custody, performance and analytics, securities lending, foreign
exchange and transfer agency for approximately $21 billion in assets.
State Street has been providing servicing solutions to the State of
Connecticut for eight years.
"Throughout our relationship, we've experienced excellence in
customer relations and consistency in execution from State Street's
team of professionals," said Denise L. Nappier, Connecticut State
Treasurer. "State Street's broad capabilities and efforts to adapt to
our constantly evolving needs are the foundation of our longstanding
relationship."
State Street currently services more than 40 percent of the public
fund business in the United States, through its dedicated public fund
team, with customers in 33 states and the District of Columbia, Puerto
Rico and the U.S. Virgin Islands.
"State Street's partnership with the State of Connecticut Treasury
is the latest addition to a consistently growing roster of public fund
customers with whom we've developed long-term relationships," said Lee
Jones, senior vice president and head of State Street's public fund
business in the United States. "With more than 20 years of meeting the
investment servicing needs of public funds, we remain committed to
being the industry leader in this important market segment."
State Street has an extensive track record in providing investment
solutions for public funds. The Oregon State Treasury recently
retained State Street to provide a variety of investment services for
$60 billion in assets. State Street has also retained and/or secured
new relationships with a number of public funds, including: Illinois
State Board of Investments, North Carolina Department of the State
Treasurer, Minnesota State Board of Investment, the Employees'
Retirement System of the State of Hawaii, the Teacher Retirement
System of Texas, Texas Municipal Retirement Fund, the Ohio Public
Employees Retirement System and the Retirement System of Alabama.
About State Street
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 $9.6 trillion in assets under custody and $1.4 trillion in assets
under management (as of June 30, 2005), State Street operates in 25
countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.
About the Connecticut State Treasury
The Connecticut State Treasury manages public resources, maintains
high standards of professionalism and integrity, and creates
opportunity for the citizens and businesses of Connecticut. The Office
of the Treasurer includes an Executive Office as well as five distinct
divisions: Cash Management, Debt Management, Second Injury Fund,
Pension Fund Management Division, and Unclaimed Property Division. For
more information, visit http://www.state.ct.us/ott
CONTACT: State Street CorporationCarolyn Cichon, 617-664-8672
SOURCE: State Street Corporation