State Street new custodian of WSIB 30 March 2012Boston Reporter: Georgina Lavers
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State Street Corporation will provide a range of investment services to Washington State Investment Board (WSIB), including custody, daily investment and compliance reporting, securities lending, securities valuation and settlement.
“We are pleased that WSIB has chosen State Street to help meet the needs of its expanding global portfolio,” said Stephen Nazzaro, senior vice president of State Street global services. “Our bundled solution will help increase operational efficiencies and allow WSIB to focus on meeting their growth objectives.”
WSIB is headquartered in Olympia, Washington and manages investment portfolios for 17 separate state retirement plans and 22 other public and trust funds that support or benefit industrial insurance, colleges and universities, developmental disabilities, and wildlife protection.
WSIB has approximately $80.4 billion in assets under management as of 31 December 2011.
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