State Street Corp, (NYSE: STT) and IFDS Canada, have been appointed by Wellington West Asset Management, Inc. to provide a range of investment services, the firms announced Monday.
State Street will provide fund accounting, fund administration, custody and trustee services for a group of new funds being launched by Wellington West.
Wellington West is an independent full-service wealth management firms in Canada with approximately $8.8 billion in assets under administration.
\u201cIn selecting a fund service provider, we looked for a technology leader with a demonstrated record of service excellence,\u201d stated Kish Kapoor, president of Wellington West Holdings, Inc. \u201cState Street has established a strong presence and track record of success in Canada and was clearly the top choice to meet our needs.\u201d
\u201cAs our servicing business in Canada continues to expand, we are focused on being a strong partner in helping our customers like Wellington West achieve their growth targets,\u201d said Kevin Drynan, senior vice president of State Street in Canada
\u201cWellington West was another key strategic business win for IFDS and we are excited about our long term partnership,” says Debralee Goldberg, president and CEO of IFDS (Canada) Ltd., a transfer agency services firm.
State Street has provides investment servicing and management solutions to Canada\u2019s financial services community. If offers a broad array of services to many of Canada\u2019s leading institutional investors.
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