NM Rothschild & Sons selects State Street for investment servicing

Source: State Street

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 an integrated range of investment services to the US$650 million NM Rothschild & Sons Pension Fund.

NM Rothschild & Sons Ltd. provides corporate and resource banking, investment banking, private banking and trust services to a wide range of customers.

State Street will provide the fund with custody, investment accounting and securities lending services. The new mandate, which will be supported from State Street's service centre in Edinburgh, builds upon an existing relationship the fund has with WM Performance Services, the European performance measurement division of State Street. The fund was advised by Watson Wyatt in its search for an investment services provider.

"State Street's service solution allows us to maximise the operational efficiency of our fund across a wide spectrum of custody-related services," said Catherine Palmer, the fund's pensions manager. "We are very confident that our existing performance measurement services can be combined within a broader relationship that will serve the fund well for a long time to come."

"This mandate builds on our success of meeting the complex needs of the European pension fund market," said Alasdair Reid, head of State Street's asset owner group in the UK. "Our customers benefit from the integrated package of investment services and depth of experience which State Street has to offer."

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