State Street Extends Mandate With Deutsche Lufthansa

State Street has extended its 13-year relationship with Lufthansa German Airlines Group (Deutsche Lufthansa) for an additional five years.

The services provided by the custodian bank will now include transition management, collateral management and FX spot execution services.

State Street currently provides custody, fund accounting, risk analysis, performance measurement and securities lending services for assets in Germany, Switzerland, Luxembourg and the United States with total assets under custody of $11 billion.

Axel Tilmann, senior vice president of Group Finance at Deutsche Lufthansa AG said, “State Street offers a wide product spectrum and their ability to bundle these services into solutions that accommodate our needs, globally paired with a client centric service have all led to us extending our contract.”