State Street Wins Custody Mandate From EMC

EMC Insurance Companies has chosen State Street to provide full custody and investment analytics services for $4 billion worth of assets.

“After an extensive review of several custody and administration service providers, we selected State Street because of its expertise in custody, accounting and reporting solutions,” said Lisa A. Stange, vice president and chief investment officer of EMC Insurance Companies. “We were looking for a provider committed to developing solutions that will address our growth needs and support our investment strategies.”

“We are extremely pleased to be selected by EMC Insurance Companies,” said Alan Greene, executive vice president of State Street. “As insurers look to meet new reporting and regulation challenges as well as update disparate legacy systems, they need to evaluate how their firms are operating within an evolving market. Determining whether they have the right infrastructure in place or looking to outsource to external parties to help satisfy all these new requirements are important considerations.”