Wachovia Corporate and Institutional Trust has been appointed custodian for the State of Arizona Insurance Commission.
Headquartered in Phoenix, Ariz., the Insurance Commission was established to execute state insurance laws protecting insurance consumers and encouraging economic development.
“We are pleased that the State of Arizona has chosen Wachovia to be its institutional custodian,” said John Shope, senior vice president and national sales director of Corporate and Institutional Trust. “Our commitment to customer service and our dedicated professionals make us an excellent choice for partnerships with organizations like the Insurance Commission.”
Institutional Trust Services, headed by John Principe, serves all types of institutional clients, targeting niche markets including domestic and international correspondent banks, healthcare, government/municipal, insurance, investment advisors and mutual funds.
“Wachovia’s superb team of professionals along with their online system for insurance commissioners, TICWeb, made them an ideal choice as institutional custodian,” said Blaine Vance, Chief Deputy Treasurer for the Office of the Arizona State Treasurer.
Wachovia Corporate and Institutional Trust offers retirement services, custodial services and investment management, conventional and structured finance trust solutions, equity services and information management and claims processing to institutional clients worldwide.
Based in Charlotte, N.C., Wachovia Corporate and Institutional Trust has 40 locations in 18 states plus the District of Columbia.