MONTREAL and TORONTO--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), the world's leading provider of
financial services to institutional investors, announced today that it
has been appointed by the City of Edmonton to provide custody and
accounting, securities lending and trustee services for their portfolio
of $2.2 billion in assets.
State Street Global Advisors (SSgA), the investment management arm of
State Street, has also been selected for an equity mandate. The City of
Edmonton has invested in SSgA's new investment offering, Canadian Alpha
Edge, a 130/30 strategy.
"State Street is a recognized leader in Canada, and we are delighted to
capitalize on their depth of investment management and investment
servicing capabilities in order to enhance the financial sustainability
of our city," said Sandy McPherson, Chief Investment Officer at City of
Edmonton.
With more than 1,200 employees in Toronto, Montreal and Vancouver, State
Street has provided a broad array of services to many of Canada's
leading institutional investors for more than 20 years.
"We are pleased to be working with the City of Edmonton to build on the
success of our Edge strategies, which seek to consistently add value
through superior stock selection to increase the opportunity set for
potential returns independent of market conditions," said Gregory
Chrispin, President and Managing Director, State Street Global Advisors
in Canada.
Kevin Drynan, President, State Street Trust Company Canada added:
"Public funds are increasingly recognizing the importance of partnering
with service providers like State Street which can deliver superior
technology and customer service. We look forward to supporting the City
of Edmonton's sophisticated investment portfolio."
About State Street
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 website at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
Marie McGehee, + 1-617-664-1898
or
City of Edmonton
Jason Darrah, + 1-780-496-4114
or
Fleishman-Hillard Canada, Inc.
Dan Madge, + 1-416-645-8188