State Street Selected By CSIM To Service $140 Billion In Assets

State Street Corporation announced that it has been selected by Charles Schwab Investment Management (CSIM) to provide a broad range of investment services including accounting, custody and securities lending to the Schwab Funds and Laudus funds. The fund complexes represent

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State Street Corporation announced that it has been selected by Charles Schwab Investment Management (CSIM) to provide a broad range of investment services including accounting, custody and securities lending to the Schwab Funds and Laudus funds.

The fund complexes represent more than 67 funds in total and $140 billion in assets.

“Our goal is to move from a complex structure of several outside vendor relationships to a simpler one, consolidating to gain efficiency,” said George Pereira, chief financial officer of CSIM. “The new fund accounting and custody structure we have implemented will offer numerous benefits, including a simpler and more scalable operating structure, a more efficient shareholder reporting process and tighter risk management. State Street excelled in all aspects of the competitive bid process and is the best choice to serve CSIM’s needs going forward.”

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