Boston’s State Street Bank will provide master custodian services and accounting administration for the Connecticut Retirement Plan and Trust Funds and their internally managed funds, which total $61 billion in current assets.
State Street will also serve as an investor account administrator for Connecticut”™s Short-Term Investment Fund (STIF), $12.5 billion fund that is internally managed by the state treasurer”™s office and serves as an investment vehicle for the operating cash of the state and all political subdivisions within Connecticut.
State Street was chosen from a Request for Proposal issued by Treasurer Shawn Wooden”™s office last December.
“As a leading provider of financial services to institutional investors with a strong track record of delivering services to sophisticated asset owners, Connecticut is thrilled to announce our decision of bringing on State Street as the master custodian for our pension funds,” said Wooden in a press statement.
