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PensPlan appoints State Street for investment servicing mandate

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State Street Corporation has been appointed by PensPlan, a pension fund service provider in Italy, to provide a range of investment services for EUR100m in assets.

State Street Corporation has been appointed by PensPlan, a pension fund service provider in Italy, to provide a range of investment services for EUR100m in assets.

Established as a complementary pension system to the public schemes in Italy, PensPlan is based in the northern region of Trentino-South Tyrol and delivers risk management, manager selection and asset liability modeling to pension funds and institutional investors throughout Italy.

State Street’s operation in Milan will provide PensPlan with custody and State Street’s Amsterdam operations will provide fund administration, risk and performance analytics services.

‘State Street was able to provide us with a single and customized solution that could accommodate our multi-jurisdictional needs,’ says Florian Schwienbacher, administration manager of PensPlan. ‘With teams of expert resources in both Italy and Amsterdam, it was the only provider that could service our complex scheme.’

‘With our global footprint and local expertise, we are well-suited to provide PensPlan with a comprehensive offering,’ says Tim Caverly, executive vice president and head of sales and business development for State Street’s investor services business in Europe. ‘We look forward to providing them with additional services as they continue to grow their membership across Italy.’

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