State Street has extended its 13-year relationship with Lufthansa German Airlines Group to include securities lending for assets in multiple locations with total assets under custody of 9 billion.
The provider was originally appointed by Lufthansa in 1998 to provide custody and accounting for the German KAG Spezialfonds. The relationship has since expanded to the provision of a range of services such as investment compliance, performance analytics and risk analysis.
We chose to extend our relationship with State Street as we have been extremely pleased with the multi- location service capabilities and the continued service excellence provided across all parts of the business since our relationship commenced, said Axel Tilmann, senior vice president Group Finance, Deutsche Lufthansa.