Equity Trustees appoints State Street for custody contract
State Street has announced Equity Trustees has appointed State Street for custodial and investment administration services of Equity Trustees Wealth Services Limited funds.
The new agreement would have State Street provide Equity Trustees with back office services including custody, fund accounting, regulatory reporting, compliance and tax services.
Daniel Cheever, head of State Street Global Services for Australia, said the mandate reflected the strong working relationship between the two companies.
“We are delighted to expand our relationship to provide this service to two parts of the EQT Group of companies and look forward to supporting their growth,” Cheever said.
Mick O’Brien, Equity Trustees’ managing director, said they were entrusted with supporting their clients and their beneficiaries, which included managing their money.
“We are confident that State Street has the right expertise and resourcing to support our back office as we continue to focus on our core business of acting as a professional trustee,” O’Brien said.
AUTHOR
Chris Dastoor
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
