State Street Apointed to Service $2.2 billion for Saskatchewan Teachers'

Date: Monday, November 2, 2009
Author: Fleishman-Hillard Canada Inc.

State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today that it has been appointed by the Saskatchewan Teachers’ Federation to provide a range of investment services for CAD$2.2 billion in pension and group benefit fund assets. State Street will provide custody, fund accounting, and securities lending services to the Federation.

          “State Street’s proven track record of delivering superior service with advanced technology was the critical factor in our decision,” said Gwen Dueck, general secretary of the Saskatchewan Teachers’ Federation. “Efficient, cost-effective servicing is vital to the operations of our pension, disability, and health benefit funds, and we look forward to a long and productive relationship with State Street.”

State Street is a leading provider of investment services to public funds and provides services to the 10 largest pension plans in Canada.  

“We are delighted to be awarded this mandate by the Saskatchewan Teachers’ Federation,” said Kevin Drynan, president of State Street Trust Company Canada.  “This appointment reflects our long-standing commitment to delivering state-of-the-art technology and superior service to our public funds customers.”

With more than 1,200 employees in Toronto, Montreal and Vancouver, State Street provides a broad array of services to many of Canada’s leading institutional investors.

About the Saskatchewan Teachers’ Federation

The Saskatchewan Teachers’ Federation (STF) is the professional organization representing over 12,000 elementary and secondary school teachers in publicly funded schools in Saskatchewan.

About State Street

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 $17.9 trillion in assets under custody and administration and $1.7 trillion in assets under management at September 30, 2009, State Street operates in 27 countries and more than 100 geographic markets worldwide.  For more information, visit State Street’s web site at www.statestreet.com.