State Street Global Services

HONG KONG — State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, announced the launch of a new hedge fund servicing business in Asia Pacific, and expansion plans for existing real-estate and private equity servicing operations in mainland China, Hong Kong and Singapore.

To support the expansion drive, State Street announced the appointment of Ms. Carol Hall as senior managing director and head of alternative investment services in Asia Pacific. Ms. Hall will be based in Hong Kong, with direct responsibility for teams servicing private equity clients in Hong Kong and Singapore, and for the establishment of the hedge fund servicing business. Services offered will cover requirements for front, middle, and back-office, as well as a broad range of risk, performance and analytics services.

“I’m excited to take up the challenge of delivering State Street’s comprehensive range of hedge, private equity and real estate fund administration services in Asia Pacific,” said Ms. Hall. “Clients with investments in the region will benefit from our alternatives fund administration expertise, proven process controls and dedicated technology platforms – most importantly to be delivered by teams located in this time-zone.”

The hedge fund services will be offered through International Fund Services, a State Street company and the industry’s second largest hedge fund administrator and provider of middle and back office offerings supported by proprietary technology platforms. State Street already has a private equity and real estate service business in Asia and expects to add another 60 people in Hangzhou as that business expands.

State Street established a presence in Asia Pacific as an alternative funds service provider when it acquired Mourant International Finance Administration (MIFA) in 2010, with locations in Hong Kong and Singapore. Ms. Hall said allocations into alternative assets were expected to increase over the next few years, with rising demands from investment managers in Asia Pacific, and also from North American and European clients with a trading presence in the region.

“We will provide the same comprehensive services in Asia Pacific that we are delivering today in North America and Europe,” said Ms. Hall. “Functions can therefore be shared between jurisdictions, which will mean more timely and efficient service for clients.”

State Street is the world’s leading alternative investment service provider with $772 billon in assets under administration (as of March 31, 2010), supported by over 3,000 professional staff exclusively focused on alternative asset servicing.  State Street offers a complete suite of fund administration and risk services for hedge, private equity, real estate and offshore funds, supporting some of the most sophisticated alternative asset managers in the world.

About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $22.6 trillion in assets under custody and administration and $2.1 trillion* in assets under management at March 31, 2011, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.

*This AUM includes the assets of the SPDR Gold Trust (approx. $56 billion as of March 31, 2011), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent.