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Luxembourg and London— State Street Corporation, (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has expanded its securities lending presence in Continental Europe. State Street has named Stefan Corthouts as vice president of new business development for Continental Europe, based in Luxembourg. Prior to this role, he was responsible for new business development of State Street's offshore investment services product offering.
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| "With an increasing demand for experienced and sophisticated securities lending providers across this region, increasing our local presence is important as we continue to grow our securities finance business," said Chris Holzwarth, managing director of State Street's securities finance team. "Stefan has a deep understanding of the marketplace across Continental Europe and of the local Luxembourg marketplace. His broad market knowledge, combined with over 14 years of industry experience in Europe, make him a great addition to our team", added Holzwarth. |
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| State Street has provided securities lending in the Europe, Middle East and Africa (EMEA) region since 1991. With over ninety securities finance customers located across the region, including in offshore locations such as Luxembourg, Dublin, Jersey, Guernsey, the Netherlands Antilles, Cayman Islands and Bermuda, State Street is one of the region's largest and most experienced securities lending providers on a custody and third-party basis. |
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| With approximately $3 trillion in lendable assets and nearly $700 billion in assets on-loan as of June 30, 2007, State Street is a market leader in securities finance. It serves more than 400 customers and 150 borrower relationships worldwide from 14 locations in North America, Europe and Asia-Pacific. For more information about State Street's securities lending program, visit
www.statestreet.com/securitiesfinance.
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| 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 $13.0 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2007, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street's website at
www.statestreet.com. |
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