State Street Corporation (NYSE: STT) and Canadian Western Trust Company (CWT) today announced that State Street has been appointed to provide custodial services for the Corporate and Group Services division of CWT, a wholly-owned subsidiary of Canadian Western Bank (TSX: CWB).
“With their proven track record and reputation as the world’s leading provider of financial services to institutional investors, State Street was the clear choice to provide additional investment solutions to help us grow our business,” said Scott Scobie, general manager of CWT. “With State Street’s global presence, our clients will now have additional access to markets outside of North America.”
CWT has been offering retirement, trustee and custodial solutions to financial advisors, corporations and individuals for more than twenty years. Established in 1987, CWT currently administers over CAD $4 billion in assets. CWT’s reputation for flexibility and responsiveness are points of pride.
“We are delighted to have been selected by Canadian Western Trust for their custodial needs,” said Ron Robertson, senior vice president and managing director of State Street’s investment servicing business in Canada. “This mandate reflects our commitment to providing Canadian trust companies with dedicated solutions and to helping position our customers for long-term growth in a volatile market environment.”
State Street has provided solutions to Canada’s financial services community for more than twenty years. With more than 1,200 employees in Toronto, Montreal and Vancouver, State Street provides a broad array of services to many of Canada’s leading institutional investors.
About Canadian Western Trust
Based in Vancouver, British Columbia, Canadian Western Trust Company (CWT) is a wholly owned subsidiary of Canadian Western Bank. CWT offers self-directed registered accounts and investment account services to independent financial advisors, mortgage brokers and individuals. CWT also provides corporate and group services to corporations that offer employee retirement and pension plans. For more information refer to www.cwt.ca.
About State Street
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $12 trillion in assets under custody and $1.4 trillion in assets under management at December 31, 2008, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.