State Street has been named as the collateral manager and custodian for the Department of Finance Canada’s currency swap programme.
State Street currently boasts $1 trillion in assets under custody and the bank has grown by 65 percent in the past five years.
“We are very pleased to be selected by the Department of Finance and the Bank of Canada to support their middle-office needs," said Rob Baillie, senior vice president and head of State Street Canada.
“We are dedicated to providing our clients specialised solutions to help them manage their portfolio and regulatory risk. The decision to partner with us is a testament to confidence in State Street’s ability to provide a fully integrated collateral management and custody solution.”
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