State Street Reappointed By London Pension Fund To Provide Investment Services In Addition To Global Custody

State Street will provide to the $1 bilionn London Borough of Enfield Superannuation fund with securities lending services in addition to global custody, investment accounting, performance measurement and foreign exchange services. The fund was advised by Hewitt Associates during a

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State Street will provide to the $1 bilionn London Borough of Enfield Superannuation fund with securities lending services in addition to global custody, investment accounting, performance measurement and foreign exchange services.

The fund was advised by Hewitt Associates during a competitive re-bid process.

“We were keen to continue our long-standing partnership with State Street,” says Paul Reddaway, head of Treasury and Pensions at the fund. “It presented the best overall service package and has a clearly defined Local Authority focus. State Street remains a very good fit for our fund.”

“We are delighted that Enfield has decided to renew and expand its broad mandate with State Street,” says Mark Westwell, head of account management for State Street in the United Kingdom, Middle East and Africa. “Our ability to retain and develop longstanding relationships is well recognised and one of the key reasons why our UK pensions customer base has grown so significantly in recent years, particularly within the Local Authority market segment.”

The fund, which transferred to State Street as a result of the 2003 acquisition of Deutsche Bank’s Global Securities Services business, will continue to be serviced from State Street’s operations in Edinburgh.

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