BOSTON & TORONTO--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors, today
announced that it has been appointed by the McCain Foods Limited
Canadian pension plans to provide custody, accounting, benefit payments,
and investment analytics.
"State Street has a longstanding reputation as a premier provider of
investment servicing solutions," said David O'Brien, Vice President &
Group Treasurer and the officer responsible for McCain's global pension
function. "The advanced technology and superior customer service and
analytics capabilities provided by State Street will introduce
significant efficiencies to our benefits servicing program."
McCain Foods Limited has offered pension benefits to its Canadian
employees since shortly after its founding in the 1950s. The McCain
Foods Limited Canadian pension plans currently administer more than CAD
$300 million in assets.
"We are very pleased that the McCain Foods Canadian pension plans
selected State Street for its investment servicing needs," said Ron
Robertson, senior vice president and managing director of State Street's
investment servicing business in Canada. "This new mandate reflects our
commitment to providing a wide range of investment services that are
customized to the unique needs of each customer."
State Street has provided solutions to Canada's financial services
community for more than twenty years. With more than 1,200 employees in
Toronto, Montreal and Vancouver, State Street provides a broad array of
services to many of Canada's leading institutional investors.
About McCain Foods Limited
McCain Foods Limited is a Canadian family-owned food processor and
marketer with fifty-four factories located in fourteen countries and on
all six continents. Annual global sales total approx. CAD6.5 billion.
Its twenty-two thousand employees participate in McCain pension plans in
more than forty countries. Among other things, McCain is the world's
largest producer of frozen french fries.
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 $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 web site
at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
Alicia Curran Sweeney, + 1-617-664-3001