State Street awarded global mandate by Allianz GI
State Street Corporation has been appointed by Allianz Global Investors (Allianz GI) to provide a wide range of investment services.
The agreement expands an existing relationship into a strategic global partnership with State Street delivering a broad spectrum of investment servicing solutions for more than €450bn in assets under management.
State Street will provide middle and back office solutions including fund administration, depository and trustee services, global custody, transfer agency, share class hedging, and data consolidation services. The mandate remains subject to approvals of applicable funds’ boards as well as customary regulatory approvals.
“We are delighted to expand our relationship with Allianz Global Investors and are looking forward to the next phase of this strategic partnership, which defines a new service model for leading asset managers,” Jeff Conway, chief executive officer for EMEA at State Street, said.
“State Street’s data consolidation and analytics capabilities are a cornerstone for creating a joint end to end operating model that will service Allianz GI across all asset classes and jurisdictions and support their future growth. This mandate demonstrates the value of a true partnership with our client,” Conway said.
