The Department of Finance Canada has asked State Street to act as collateral manager and custodian for the Government of Canada’s currency swap programme.
Said Rob Baillie, senior vice president and head of State Street Canada: “We are very pleased to be selected by the Department of Finance and the Bank of Canada to support their middle office needs. We are dedicated to providing our clients [with] 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.”
State Street goes on to say that this year it celebrated 25 years in Canada. With more than 1,300 employees and more than $1 trillion in assets under custody, State Street has grown by 65 percent in Canada over the last five years. The corporation adds that it was also recently recognised as one of Toronto’s Top 100 Employers by the editors of Canada's Top 100 Employers for its flexible and alternative work arrangements, diversity programmes and green initiatives.
