Swedbank awards State Street custody mandate 30 November 2018London Reporter: Maddie Saghir
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Swedbank has appointed State Street to provide global custody services and investment servicing solutions.
According to State Street, the mandate represents a new strategic partnership that combines State Street’s investment servicing, data, and analytics capabilities with Swedbank’s client relationships in the Nordic and Baltic Markets.
In Luxembourg, the partnership will provide Swedbank client’s access to State Street’s depositary, fund administration and transfer agency services.
Joerg Ambrosius, co-head of State Street’s Global Services business in Europe Middle East and Africa, said: “We are delighted to enter this partnership with Swedbank. We look forward to offering the bank’s clients our broad set of capabilities within the Nordic countries.”
He continued: “Combining our global expertise and technology with Swedbank’s deep knowledge of the local market gives us the platform to provide comprehensive solutions to institutional investors in the region.”
Ola Laurin, head of large corporates and institutions at Swedbank, cited: “The needs of our institutional clients are changing rapidly in today’s demanding market. With State Street as our partner, I am confident that we will be able to provide a future-proof solution for custody services.”
“This partnership will enable our clients to benefit from a wider range of services and additional geographical markets with a Nordic-Baltic focus. State Street’s high-quality sophisticated and longstanding technical expertise in global custody and investment services will make it possible for our financial institution's clients to manage their business, investments and data more effectively.”
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