State Street says the Hartford, Connecticut-based Phoenix Life Insurance Company has appointed the Boston-based bank to provide fund accounting and compliance services to $9 billion of general account assets and $5 billion of separate account assets. State Street will use Princeton Financial Systems’ PAM system for securities accounting to support Phoenix Life’s accounting needs. Hartford-based Phoenix Life and State Street have worked together for over 20 years. This new deal is in addition to $8 billion in assets for which State Street provides custody and related services.
State Street Expands Phoenix Life Mandate By Another $14 Billion
State Street says the Hartford, Connecticut based Phoenix Life Insurance Company has appointed the Boston based bank to provide fund accounting and compliance services to $9 billion of general account assets and $5 billion of separate account assets. State Street
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