State Street will provide F&C, and its subsidiary Thames River Capital with services for their global operations which includes investment operations, custody, fund accounting, trustee, securities lending and transfer agency – the latter provided through IFDS, State Street’s joint venture with DST systems.
As a result of this mandate, 102 employees will transition to State Street from F&C in London and Edinburgh.
F&C chief executive Alain Grisay said this agreement will improve operational efficiency and is a major step forward in introducing long term flexibility in its cost base which will benefit both clients and shareholders.
