Street Corporation has been appointed by PensPlan, a pension fund service provider in Italy, to provide a range of investment services for EUR100 million in assets.
Established as a complementary pension system to the public schemes in Italy, PensPlan is based in the northern region of Trentino-South Tyrol and delivers risk management, manager selection and asset liability modeling to pension funds and institutional investors throughout Italy. State Streets operation in Milan will provide PensPlan with custody and State Streets Amsterdam operations will provide fund administration, risk and performance analytics services.
State Street was able to provide us with a single and customized solution that could accommodate our multi-jurisdictional needs, said Florian Schwienbacher, administration manager of PensPlan. With teams of expert resources in both Italy and Amsterdam, it was the only provider that could service our complex scheme.
With our global footprint and local expertise, we are well-suited to provide PensPlan with a comprehensive offering, said Tim Caverly, executive vice president and head of sales and business development for State Streets investor services business in Europe. We look forward to providing them with additional services as they continue to grow their membership across Italy.