Finnish Pension Insurer Appoints State Street For Custody Services

Etera Mutual Pension Insurance Company (Etera) in Finland has appointed State Street to provide a range of custody services.
By Janet Du Chenne(59204)
Etera Mutual Pension Insurance Company (Etera) in Finland has appointed State Street to provide a range of custody services.

State Street will provide custody, fund accounting, transaction management, securities lending, futures clearing, agent fund trading, daily risk services, OTC derivatives servicing and collateral management for more than €5.6 billion in assets under management.

“Given the Finnish and European regulatory challenges facing the industry, and our enhanced investment strategy we needed to look to future proof our current business model. The ability of State Street to address our needs and provide a holistic solution to our liabilities was extremely important to us,” said Jari Puhakka, chief investment officer of Etera.

“Asset owners need access to real-time data to optimize their investment decisions,” says Paola Bergamaschi, head of asset owner solutions for State Street in Europe, Middle East and Africa. “We’re pleased to be able to bring our expertise of servicing some of the largest pension funds globally to meet Etera’s specific requirements, and help them build a strong business going forward.”
Etera is a mutual employment pension insurance company.

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