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State Street Appointed By NM Rothschild & Sons to Provide Investment Servicing for US$650 Million in Assets

29/01/2007
 

Edinburgh – 29 January 2007 -- State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, today announced that it has been appointed to provide an integrated range of investment services to the US$650 million NM Rothschild & Sons Pension Fund. NM Rothschild & Sons Ltd. provides corporate and resource banking, investment banking, private banking and trust services to a wide range of customers .

State Street will provide the fund with custody, investment accounting and securities lending services . The new mandate, which will be supported from State Street’s service centre in Edinburgh, builds upon an existing relationship the fund has with WM Performance Services, the European performance measurement division of State Street. The fund was advised by Watson Wyatt in its search for an investment services provider.

“ State Street’s service solution allows us to maximise the operational efficiency of our fund across a wide spectrum of custody-related services,” said Catherine Palmer, the fund’s pensions manager. ”We are very confident that our existing performance measurement services can be combined within a broader relationship that will serve the fund well for a long time to come.”

“This mandate builds on our success of meeting the complex needs of the European pension fund market,” said Alasdair Reid, head of State Street’s asset owner group in the UK. “Our customers benefit from the integrated package of investment services and depth of experience which State Street has to offer.”

State Street Corporation is the world’s leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading services. With $11.9 trillion in assets under custody and $1.7 trillion in assets under management as of December 31, 2006, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.

WM Performance Services is one of the world's leading investment performance measurement businesses and is the European performance measurement division of State Street Corporation. Based in Edinburgh, London, Amsterdam, Paris, Frankfurt and Zurich, WM measures more than 5,000 investment portfolios based in the key global investment centres and provides an extensive range of services to support better investment decisions.

 
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