State Street Corp. announced that it has been appointed the investment service provider for the British Airways Pension Trustees fund.
The Boston banking company is to supply global custody services, fund accounting, and securities lending services to the airline pension fund's $19.33 billion of assets, the company said on Wednesday.
State Street also is to supply performance measurement services through WM Co., its Edinburgh-based performance analytics and evaluation business.
The British Airways Pension Trustees fund was previously served by Deutsche Bank's global securities services unit. State Street bought this business from Deutsche in 2003, and the British Airways mandate was put out for competitive bid this year.
State Street continues to win significant new business in Europe. Through September, it said, it had won more than 79 investment servicing mandates in the United Kingdom. State Street has $9 trillion of assets under custody and $1.2 trillion of assets under management worldwide.
