BOSTON & TORONTO--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors, announced
today that it has been appointed by MD Physician Services Inc. (MDPSI)
to provide a range of investment services for CAD$15.6 billion in assets
including custody, fund accounting, and fund valuation services.
"State Street's advanced technology, reporting and analytics
capabilities were key factors in our decision-making process," said Guy
Belanger, chief financial officer of MD Physician Services Inc. "We were
impressed by State Street's long history of successful service quality
and comprehensive approach, particularly in outsourced mutual fund
accounting. We look forward to a successful partnership."
MDPSI, directly and through its subsidiaries, is the manager and trustee
of the MD family of funds, a group of 22 proprietary mutual funds.
"We are very pleased to establish this new partnership with MD Physician
Services Inc.," said Kevin Drynan, senior vice president of State Street
in Canada. "This mandate reflects our commitment to providing Canadian
mutual fund providers and investment managers with local expertise,
global reach and advanced technology to address their unique needs."
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 MD Physician Services Inc.
MD Physician Services Inc. is the manager and trustee of the MD family
of funds, a group of 22 proprietary mutual funds. The company retains
and supervises world-class investment managers who manage the portfolio
assets of one or more of the funds or parts of the funds. MD Physician
Services Inc. also provides investment counseling services to clients
with a national network of licensed investment counselors who provide
expert advice and portfolio management services to clients. These
services are offered under the MD Private Investment Counsel brand. MD
Physician Services Inc. also assists clients with the business side of
their medical practices by providing practice management and software
solutions that help physicians manage and operate their medical
practices more effectively and efficiently.
About State Street
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 $18.8 trillion in assets under custody and administration
and $1.9 trillion in assets under management at December 31, 2009, 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.
Source: State Street Corporation
Contact: MEDIA CONTACT:
State Street Corporation
Alicia Curran Sweeney, + 1 617 664 3001