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State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced that it has expanded its relationship with Lloyds Banking Group to provide custody, fund accounting, financial reporting, compliance and transfer agency services for 27 Luxembourg funds across three sicavs.
The funds are currently valued at approximately EUR2.4 billion in assets. State Street has provided Lloyds Banking Group with a wide range of investment services since 2001. As a result of this expanded mandate, 10 employees of Lloyds TSB in Luxembourg will join State Street in November.
“We have been very pleased with State Street’s ability to understand the complexity of our products and offer us solutions in Luxembourg...
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