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State Street to Provide Investment Services for €620 Million in Assets for Dutch Pension Funds

27/11/2007
 

AMSTERDAM, November 27, 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 a range of investment services for €620 million in pension fund assets of Royal Cosun, a leading food producer in the Netherlands.

State Street will provide Royal Cosun’s three pension funds with global custody, accounting, regulatory reporting, and performance measurement and analytics services.

“We have reviewed our requirements for financial services in view of a new fiduciary management mandate for the three Royal Cosun pension funds signed recently,” said Ab Matser, group treasurer of Royal Cosun and Cor Veraart, head of the pension desk, in a joint statement. “ State Street’s pro-active and professional approach has been one of the reasons to grant this mandate to them.”

Royal Cosun’s pension funds are Stichting Pensioenfonds Koninklijke Cosun, Stichting Pensioenfonds Aviko and Stichting Pensioenfonds Suiker 2007, with assets of €440 million, €100 million and €80 million, respectively.

“We are delighted to receive this new mandate from Royal Cosun,” said Simone Vroegop, vice president and director of State Street’s investor services business in the Netherlands. “As our Dutch business continues to grow, this mandate is another testament to our success in meeting the complex needs of the sophisticated pension fund market in the Netherlands.”

Since opening its office in Amsterdam in 2004, State Street has built a strong foothold in the Netherlands. Its team of local professionals provides services for some of the largest and most sophisticated global investors.

 

About State Street
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $15.1 trillion in assets under custody and $2.0 trillion in assets under management at September 30, 2007, 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.

 
 
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