State Street has been appointed custodian to the Fondo Pensione Banco Napoli, the 700 million pension fund for employees of Banco Napoli.
Were delighted Fondo Pensione Banco Napoli has decided to partner with State Street, says Riccardo Lamanna, managing director and head of State Streets Global Services business in Italy. Market volatility and regulatory developments have placed challenges on the European and Italian pension industry. We are pleased that Fondo Pensione Banco Napoli has entrusted State Street to help it navigate through the changing regulatory landscape.
State Street acquired Intesa Sanpaolos Securities Services business in May of 2010 and has more than 440 employees in Italy providing a wide range of investment and asset management services to institutional investors.
(CG)