ABP mandates State Street with US and Japanese assets

State Street Corporation has bagged a lucrative contract with ABP to service its US and Japanese assets.

Elaine Leong

June 15, 2001

ABP, a pension fund for public employees in the governmental and education sectors in the Netherlands, has mandated financial services company State Street Corporation State Street to provide custodial and global securities lending services to ABP's United States US and Japanese assets. This mandate by one of the three largest pensions in the world is estimated to be worth $21 billion.

A mandate of this magnitude marks an important extension of our successful relationship with ABP, notes Ronald E Logue, vice-chairman and chief operating officer of State Street. The global custodian's relationship with ABP started in 1991, when ABP appointed State Street as advisors on equity index management. In early 2001,...

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