State Street Awarded Global Custody Mandate by Swedbank

Thursday, November 29, 2018 5:34 am EST

Dateline:

London

Public Company Information:

NYSE:
STT
"We are delighted to enter this partnership with Swedbank"

London, 29 November, 2018 State Street Corporation (NYSE: STT) today announced it has been appointed by Swedbank to provide global custody and a wide range of investment servicing solutions.

The mandate represents a new strategic partnership that combines State Street’s broad range of investment servicing, data and analytics capabilities with Swedbank’s strong client relationships in the Nordic and Baltic markets and its deep local knowledge.

“We are delighted to enter this partnership with Swedbank,” said Joerg Ambrosius, co-head of State Street’s Global Services business in EMEA. “We look forward to offering the bank’s clients our broad set of capabilities within the Nordic countries. Combining our global expertise and technology with Swedbank’s deep knowledge of the local market gives us the platform to provide comprehensive solutions to institutional investors in the region.”

“The needs of our institutional clients are changing rapidly in today’s demanding market,” says Ola Laurin, head of Large Corporates & Institutions at Swedbank. “With State Street as our partner, I am confident that we will be able to provide a future-proof solution for custody services. This partnership will enable our clients to benefit from a wider range of services and additional geographical markets with a Nordic-Baltic focus. State Street’s high-quality sophisticated and longstanding technical expertise in global custody and investment services will make it possible for our financial institutions clients to manage their business, investments and data more effectively.”

In Luxembourg, the partnership will provide Swedbank clients’ access to State Street’s depositary, fund administration and transfer agency services. 

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $33.99 trillion in assets under custody and administration and $2.81 trillion* in assets under management as of September 30, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.

*This figure is presented as of September 30, 2018 and includes approximately $28 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

About Swedbank

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development “Beyond Financial Growth”. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 620 000 corporate customers and organisations with 191 branches in Sweden and 125 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 30 June 2018 the group had total assets of SEK 2 646 billion. Read more at www.swedbank.com.

Contact:

Nadia Hassini
+ 44 203 395 7145
NHassini@StateStreet.com
@StateStreet

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