EUROPE - State Street's Princeton Financial Systems says it has hired a consultant from Netherlands-based pensions consulting firm FundPartners.

Princeton said Alan McKenna would join its European sales support staff.

It said: "The continuing growth of the European institutional investment market has enabled Princeton Financial Systems to expand its sales support for its PAM family of portfolio management and accounting system."

He joins from FundPartners, where he was fund accounting and transfer agency consultant since 2001. FundPartners is owned by ABP and PGGM, the two largest Dutch pension funds.

"We have been very sorry to see him go to another company but we respect his decision," said FundPartners chief executive Jeroen Tielman. "For the time being Karina Snyder and Remco Zomer are taking up Alan's duties."

He added that the firm is currently in the process of expanding its 12-strong team.

"We look forward to Alan's contributions in helping us to expand our presence in the Europe Middle East & Africa region," said Lorne Whitmore, Princeton's managing director of global sales. "His skills and experience will enhance our ability to identify and meet the needs of institutional investors in this important market."

Princeton, a wholly owned subsidiary of Boston-based State Street, provides investment management and accounting systems for institutional investors.