State Street secures big NSW position
State Street Corporation has picked up a significant new Government mandate in Australia having been appointed to provide investment services to the NSW Workers Compensation Nominal Insurer.
Under the mandate, State Street will provide custody, accounting, performance and analytics, mandate monitoring and financial reporting services for the body, which has around $12 billion in assets.
Commenting on the arrangement, State Street investor services managing director David Travers said the company had committed to achieving global best practice in terms of administration systems and technology to allow institutional investors, superannuation funds, endowment, insurance groups and other large, complex organisations to deliver the highest level of security, monitoring, timeliness and flexibility to their customers and members.
The mandate had followed a lengthy due diligence process.
AUTHOR
Mike Taylor
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