State Street has been appointed to provide global custody, fund accounting and performance measurement for $300 million in assets for the Hong Kong Electric retirement fund.
“We look forward to working with Hongkong Electric, a long-standing member of the HongKong business community, and providing them with State Street’s value-added solutions,” says KK Tse, executive vice president of State Street. “This mandate from Hongkong Electric further underscores our leadership in investment services and the benefits to our clients of our recent acquisition of GSS (the global securities services business previously owned by Deutsche Bank).”
“We were impressed with State Street’s team approach as well as their specialized technology and full-service product offering,” says Karina Li, group treasurer of HongKong Electric. “We value State Street’s reputation as one of the most sophisticated and trusted partners to global investors. With their growing commitment to this region, we are confident that they will provide us with the global reach and local expertise we need.”