Etera Mutual appoints State Street for custody
10 February 2014 London
![Generic business image for news article](https://www.assetservicingtimes.com/assetservicesnews/images/MondayFebruary1020141392051351.jpg)
State Street will provide a range of pension fund solutions, including custody, to Etera Mutual Pension Insurance Company.
Etera is a mutual employment pension insurance company. It provides pension cover for employees and self-employed persons and promotes well-being at work.
State Street will provide custody, fund accounting, transaction management, securities lending, futures clearing, agent fund trading, daily risk services, OTC derivatives servicing and collateral management for more than €5.6 billion in assets under management.
Jari Puhakka, chief investment officer of Etera, said: “Given the Finnish and European regulatory challenges facing the industry, and our enhanced investment strategy we needed to look to future proof our current business model. The ability of State Street to address our needs and provide a holistic solution to our liabilities was extremely important to us”
Paola Bergamaschi, head of asset owner solutions for State Street in Europe, the Middle East and Africa, said: “Asset owners need access to real-time data to optimise their investment decisions. This helps explain why almost nine out of 10 asset owners plan to invest in order management and execution management systems over the next three years.”
“We’re pleased to be able to bring our expertise of servicing some of the largest pension funds globally to meet Etera’s specific requirements, and help them build a strong business going forward.”
Etera is a mutual employment pension insurance company. It provides pension cover for employees and self-employed persons and promotes well-being at work.
State Street will provide custody, fund accounting, transaction management, securities lending, futures clearing, agent fund trading, daily risk services, OTC derivatives servicing and collateral management for more than €5.6 billion in assets under management.
Jari Puhakka, chief investment officer of Etera, said: “Given the Finnish and European regulatory challenges facing the industry, and our enhanced investment strategy we needed to look to future proof our current business model. The ability of State Street to address our needs and provide a holistic solution to our liabilities was extremely important to us”
Paola Bergamaschi, head of asset owner solutions for State Street in Europe, the Middle East and Africa, said: “Asset owners need access to real-time data to optimise their investment decisions. This helps explain why almost nine out of 10 asset owners plan to invest in order management and execution management systems over the next three years.”
“We’re pleased to be able to bring our expertise of servicing some of the largest pension funds globally to meet Etera’s specific requirements, and help them build a strong business going forward.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
![Advertisement](../images/bull-252524.png)