State Street says it has been retained by the State of Connecticut to provide custody, performance and analytics, securities lending, foreign exchange and transfer agency for approximately $21 billion in assets. State Street has been a provider to the State of Connecticut for eight years.
“Throughout our relationship, we’ve experienced excellence in customer relations and consistency in execution from State Street’s team of professionals,” says Denise L. Nappier, Connecticut State Treasurer. “State Street’s broad capabilities and efforts to adapt to our constantly evolving needs are the foundation of our longstanding relationship.”
State Street currently services more than 40 per cent of the public fund business in the United States, with customers in 33 states and the District of Columbia, Puerto Rico and the US Virgin Islands.
“State Street’s partnership with the State of Connecticut Treasury is the latest addition to a consistently growing roster of public fund customers with whom we’ve developed long-term relationships,” says Lee Jones, senior vice president and head of State Street’s public fund business in the United States. “With more than 20 years of meeting the investment servicing needs of public funds, we remain committed to being the industry leader in this important market segment.”
The Oregon State Treasury recently retained State Street to provide a variety of investment services for $60 billion in assets. State Street has also retained and/or secured new relationships with a number of public funds, including Illinois State Board of Investments, North Carolina Department of the State Treasurer, Minnesota State Board of Investment, the Employees’ Retirement System of the State of Hawaii, the Teacher Retirement System of Texas, Texas Municipal Retirement Fund, the Ohio Public Employees Retirement System and the Retirement System of Alabama.