State Street Corporation has been appointed by Allianz Global Investors to provide a range of investment services including fund administration, depository and trustee services, global custody, transfer agency, share class hedging and data consolidation.
The mandate remains subject to approvals of applicable funds’ boards as well as customary regulatory approvals.
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 EUR450 billion in assets under management.
Jeff Conway (pictured), chief executive officer for EMEA at State Street, says: “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. State Street’s data consolidation and analytics capabilities are a cornerstone for creating a joint end to end operating model that will service AllianzGI across all asset classes and jurisdictions and support their future growth. This mandate demonstrates the value of a true partnership with our client.”
