Ranked No. 1 in Custody, Transition Management
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 was named "Custodian of the Year" and "Transition Manager
of the Year" at the 2010 Global Pensions Awards. State Street received
its two awards at a gala event in London on 2 March 2010.
In both categories, State Street was recognized for delivering
exceptional client service and innovative solutions in 2009 amid
turbulent market conditions. Sponsored by Global Pensions
magazine for more than a decade, the awards recognize outstanding
service providers in the pensions industry.
"State Street is honored to be recognized in these two important
categories of service to the pensions industry," said Joseph Antonellis,
vice chairman of State Street. "In both custodial services and
transition management, we never forget that our success depends on our
clients' success, an approach that ensures we continually develop
solutions to meet their changing needs."
In a challenging economic environment, State Street grew its custody and
transition management businesses in 2009. Total assets under custody and
administration as of December 31, 2009 were up 18 percent over December
31, 2008, while in 2009, State Street's Portfolio Solutions group
achieved a global transition volume of more than $450 billion across
more than 1,000 assignments.
The Europe-Middle East-Africa (EMEA) region saw particularly strong
growth in transition volume and now represents approximately 40 percent
of State Street's global transition volume.
State Street pioneered the transition management process more than two
decades ago and today is one of the world's largest transition managers.
With more than 100 experienced professionals, State Street's transition
management team operates on a 24-hour-a-day basis from offices in
London, Boston, Sydney, Toronto and Tokyo.
State Street's custody services support clients throughout the
investment life cycle with state-of-the-art solutions incorporating its
combined global custody and accounting platform and advanced performance
analysis tools.
Earlier this year, State Street received top honors in Global
Custodian magazine's 2009 Global Custody survey. State Street was
ranked second overall and No. 1 by clients with over $10 billion in
custody.
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 at www.statestreet.com.
Source: State Street Corporation
Contact: State Street Corporation
Carolyn Cichon, + 1 617-664-8672