State Street wins e14bn custody from Alberta
CANADA- Alberta Revenue, manager of the Province of Alberta’s CAD$35bn investments for public pension plans and provincial corporations, has appointed State Street to provide domestic custody and securities lending for CAD$22bn (e14.3bn) in assets.
The appointment will add to the current services that State Street provides to Alberta Revenue. For 11 years, State Street has supplied Alberta Revenue with global custody, accounting, securities lending, performance and analytics and foreign exchange services for CAD$11bn of assets managed by Alberta Revenue.
State Street also manages CAD$2bn for Alberta Revenue. State Street has been steadily growing its business in Canada since establishing an office in Toronto in 1990, having been awarded mandates totalling almost CAD$50bn.