State Street Corporation was appointed by Sun Life Financial of Canada (UK) to provide a range of investment administration services for more than $15 billion in assets.
State Street will provide Sun Life’s UK operation with fund accounting and unit pricing, regulatory reporting, global custody, compliance monitoring, performance measurement, derivatives pricing and processing and collateral management services.
“State Street’s broad range of services customised for the insurance market was a key attribute for us in our selection of a service provider,” says Janet Fuller, chief executive officer of Sun Life Financial of Canada (UK). “We also have been impressed by the quality of its customer service teams and control environment, and look forward to building a long-term partnership.”
“We are pleased to forge this relationship with Sun Life for their operations in the UK,” says Wade McDonald, head of customer management for State Street’s investor services team in the United Kingdom, Middle East and Africa. “With State Street’s expertise in the insurance industry, we have built a full suite of services specifically aimed at meeting the multi-faceted requirements of global organisations such as Sun Life.”