State Street Corp. has been appointed by Ottawa-headquartered MD Physician Services Inc. (MDPSI) to provide a range of investment services for $15.6 billion in assets including custody, fund accounting, and fund valuation services.

“State Street’s advanced technology, reporting and analytics capabilities were key factors in our decision-making process,” says Guy Belanger, chief financial officer of MDPSI.

MDPSI, directly and through its subsidiaries, is the manager and trustee of the MD family of funds, a group of 22 proprietary mutual funds sold to Canadian physicians and their families.

“We are very pleased to establish this new partnership with MD Physician Services Inc.,” says Kevin Drynan, senior vice president of State Street in Canada.

“This mandate reflects our commitment to providing Canadian mutual fund providers and investment managers with local expertise, global reach and advanced technology to address their unique needs.”

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.

IE