Equity Trustees appoints State Street for custody contract
State Street has announced Equity Trustees has appointed State Street for custodial and investment administration services of Equity Trustees Wealth Services Limited funds.
The new agreement would have State Street provide Equity Trustees with back office services including custody, fund accounting, regulatory reporting, compliance and tax services.
Daniel Cheever, head of State Street Global Services for Australia, said the mandate reflected the strong working relationship between the two companies.
“We are delighted to expand our relationship to provide this service to two parts of the EQT Group of companies and look forward to supporting their growth,” Cheever said.
Mick O’Brien, Equity Trustees’ managing director, said they were entrusted with supporting their clients and their beneficiaries, which included managing their money.
“We are confident that State Street has the right expertise and resourcing to support our back office as we continue to focus on our core business of acting as a professional trustee,” O’Brien said.
AUTHOR
Chris Dastoor
Recommended for you
VanEck is expanding its fixed income range with a new ETF this week to complement its existing subordinated debt strategy which has received $1 billion in inflows this year.
Specialist global equities manager Nanuk has celebrated 10 years of its flagship New World Fund and is actively considering its next possible vehicle.
Australian equities manager Datt Capital has built a retail-friendly version of its small-cap strategy for advisers, previously only available for wholesale investors.
The dominance of passive funds is having a knock-on effect on Australia’s M&A environment by creating a less responsive shareholder base, according to law firm Minter Ellison.
