Wins Hedge Fund Administration Award and Three Other Categories
BOSTON & LONDON--(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 won top honors in the Americas Service Provider Awards
(ASPAs) held by International Custody and Fund Administration (ICFA)
magazine.
State Street captured four of the 19 award categories, including Hedge
Fund Administrator of the Year for servicers with more than $50 billion
in assets under administration. It was also named Private Equity
Administrator of the Year, Transition Management Provider of the Year
and Transfer Agent of the Year. The ASPAs recognize the growth and
achievements of service providers in the Americas. The awards ceremony
took place on May 25 in New York.
“We are honored to be recognized by ICFA in a variety of categories,”
said Joe Antonellis, executive vice president and vice chairman at State
Street. “These awards acknowledge State Street’s continuing investment
in technology, operations and client service, which allow us to provide
clients with a comprehensive suite of services for their complex
investment vehicles.”
For each of the four awards won by State Street, innovation and
technology leadership were key criteria cited by the panel of judges:
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As one of the largest hedge fund administrators in the industry, in
2009, State Street significantly enhanced its fund-of-funds products
and services in response to client needs for increased transparency
and reduced risk. The expanded offering employs a proprietary,
Web-based investment platform, AlphaFrontierSM, which
supports the entire investment life cycle.
-
The largest private equity fund administrator in the world, State
Street was recognized in this category for its expanded Web delivery
capabilities as well as technology platform enhancements to support
the high volume of funds launched in 2009.
-
In transition management, the judges cited State Street’s proprietary
analytics systems and its optimal trading roadmap, an algorithm that
determines the sequence and size of trades.
-
As Transfer Agent of the Year, State Street was recognized for its
flexible service models that are customized for each client’s specific
needs. The judges also cited State Street’s 2009 launch of an
automated, fully integrated exchange-traded fund (ETF) transfer agent
portal.
This year is the first that ICFA has hosted the ASPAs. In 2009, State
Street was named European Securities Lender of the Year and European
Transfer Agent of the Year at the ICFA European Awards, and Global
Securities Lender of the Year and Global Private Equity Fund
Administrator of the Year at the ICFA Global Awards.
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 $19 trillion in assets under custody and administration
and $1.9 trillion in assets under management at March 31, 2010, State
Street operates in 25 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
Alicia Curran Sweeney, +1 617-664-3001