State Street Appointed to Service CAD $300 Million in Assets for McCain Foods Limited
BOSTON and TORONTO — November 13, 2009 — State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that it has been appointed by the McCain Foods Limited Canadian pension plans to provide custody, accounting, benefit payments, and investment analytics.
“State Street has a longstanding reputation as a premier provider of investment servicing solutions,” said David O’Brien, Vice President & Group Treasurer and the officer responsible for McCain’s global pension function. “The advanced technology and superior customer service and analytics capabilities provided by State Street will introduce significant efficiencies to our benefits servicing program.”
McCain Foods Limited has offered pension benefits to its Canadian employees since shortly after its founding in the 1950s. The McCain Foods Limited Canadian pension plans currently administer more than CAD $300 million in assets.
“We are very pleased that the McCain Foods Canadian pension plans selected State Street for its investment servicing needs,” said Ron Robertson, senior vice president and managing director of State Street’s investment servicing business in Canada. “This new mandate reflects our commitment to providing a wide range of investment services that are customized to the unique needs of each customer.”
State Street has provided solutions to Canada’s financial services community for more than twenty years. With more than 1,200 employees in Toronto, Montreal and Vancouver, State Street provides a broad array of services to many of Canada’s leading institutional investors.
About McCain Foods Limited
McCain Foods Limited is a Canadian family-owned food processor and marketer with fifty-four factories located in fourteen countries and on all six continents. Annual global sales total approx. CAD6.5 billion. Its twenty-two thousand employees participate in McCain pension plans in more than forty countries. Among other things, McCain is the world’s largest producer of frozen french fries.
About State Street Corporation
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 $17.9 trillion in assets under custody and administration and $1.7 trillion in assets under management at September 30, 2009, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s web site at www.statestreet.com.