State Street Corporation has been reappointed by Liontrust Asset Management PLC to provide an expanded range of financial services. The agreement extends State Street’s longstanding relationship with Liontrust, which currently has assets under management of more than £4 billion.
Under the terms of the agreement, State Street will continue to provide Liontrust with fund accounting, custody and trustee services. WM Performance Services, the European performance measurement division of State Street, will also provide Liontrust with a comprehensive client reporting package, including monthly and quarterly reports and performance analysis, as well as WM’s Global Investment Performance Standards (GIPS) verification reporting service.
“State Street has been a valued partner for more than 10 years,” said Vinay Abrol, chief operating officer for Liontrust. “They have consistently delivered a high standard of investment services expertise to us, and we are delighted to announce the extension of our partnership, and indeed the expansion of it to encompass WM’s offering.”
“Our relationship with Liontrust has gone from strength to strength, particularly in recent years,” said Wade McDonald, head of State Street’s Asset Management and Bancassurance Group in Northern Europe. “We think it speaks very highly of our service quality and spirit of innovation that Liontrust, a legacy Deutsche Bank Global Securities Services customer, has continued to incorporate more and more of State Street’s service offering over time. This latest expansion also testifies to WM’s position as the market leader across a wide range of performance evaluation and measurement services.”