Korea’s NPS awards State Street global equity servicing mandate
13 December 2013
News, Asia, Korea
By Asia Asset Management
State Street Corporation has been appointed by Korea’s National Pension Service (NPS) to provide custody, fund accounting, performance and analytics and securities lending for the fund’s international equities. NPS is the world’s third largest pension fund with assets of approximately US$400 billion.
Wai Kwong Seck, executive vice president and head of State Street’s global markets and global services business across Asia Pacific, said: “We are delighted to be working with NPS and have a very high regard for their operations. State Street is committed to providing the highest quality services in the industry, and we are proud to build our teams and our products to support our clients’ needs and challenges.”
He added: “New investment opportunities and evolving regulations are driving important changes for asset owners globally who are looking for enhanced insights to guide them through this environment. We are pleased to provide our clients, including NPS, with integrated solutions that help them achieve success for the long term.”
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