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
Funds managers are being urged by financial advisers to improve their “outdated” education and communication about alternative funds as they actively target them towards retail clients.
GAM Investments has appointed Eric Finnell as its managing director for Australia after his predecessor left to take up the CEO role at Global X.
Fidelity International has looked internally to appoint a head of strategic sales and solutions for its Australian division, which is a newly created role for the business.
Lonsec’s deputy CIO Deanne Baker has highlighted what investment tools the firm is harnessing to mitigate the impact of geopolitical risks in its managed account offerings.
