Client Service Cited as Key Strength in Both Surveys
BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors, announced
today that it received strong results in two independent customer
surveys: Global Custodian magazine's annual Global Custody survey
and R & M's 2009 UK Unit Trust Trustee and OEIC Depositary survey.
State Street was ranked No. 1 in the R & M 2009 UK Unit Trust Trustee
and OEIC Depositary survey, which measures customer satisfaction with
trustee services provided by independent trustees of United Kingdom Unit
Trusts and Open-Ended Investment Companies (OEICs). In Global
Custodian magazine's 18th annual Global Custody survey,
State Street placed No. 2 overall. The survey reflects institutional
investors' and fund managers' assessment of custodian performance across
a range of service categories including relationship management, client
service and technology.
"These results are particularly gratifying in view of our commitment to
providing customers with a consistently high level of service," said Joe
Antonellis, vice chairman of State Street. "We know that delivering
customer satisfaction requires diligence and innovative thinking in
every area from technology to professional relationships."
Among sub-categories in the Global Custodian survey, State Street
was ranked No.1 by clients with over $10 billion in custody. It also
garnered six top ratings for high scores in individual service
categories.
In the R & M UK Unit Trust Trustee and OEIC Depositary Survey, State
Street advanced to the top ranking. It was the only provider in the
survey to see its score increase from 2008.
"We are honored to receive this recognition for our UK trustee
services," said Steve Smit, head of State Street's Investor Services
business in the United Kingdom, Middle East and Africa. "State Street's
top ranking is a result of intensive efforts to bring our customers a
superior level of service based on a proactive partnership approach and
strong technical expertise. Trustee services are a core part of State
Street's offering to asset managers in the UK."
Questionnaires covering 29 different aspects of service were completed
by fund managers as well as unit holders. Survey respondents were asked
to rate trustees in categories ranging from the knowledge level of key
personnel to online reporting capabilities. R & M has conducted the
survey for the past seven years.
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 $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 website at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
Alicia Curran-Sweeney, 617-664-3001