Edinburgh, Scotland â 3 May 2005 -- State Street Corporation (NYSE: STT), the world's leading provider of services to institutional investors, announced today that it has become the exclusive provider of custody and performance measurement services to the West Sussex County Council Pension Fund. Expanding upon an existing relationship with the Fund, State Street now services Â£740 million of the Fundâs assets.
Under the terms of the agreement, State Street will provide custody for the Fundâs assets, while performance measurement will continue to be provided through WM Performance Services, the European performance measurement division of State Street. The Fund was advised by Thomas Murray in its custody review.
"We look forward to building upon our partnership with West Sussex," said Alasdair Reid, head of State Streetâs Asset Owner Group in Northern Europe. "State Street serves as a custodian to one-quarter of the UKâs 100 local authority pension plans, and this mandate reinforces our prominent position in this sector."