State Street has extended its existing collateral services relationship with Union Investment for an additional five years, including an option for further extension.
Union Investment has worked with State Street for the past eight years.
As part of the renewal, State Street will continue to provide collateral management services, with bilateral and triparty collateralisation, for the complete mutual fund range of Union Investment in Germany and Luxembourg.
CEO of State Street Bank International, Munich, Stefan Gmuer says that by providing specialised solutions the bank is able to help clients "streamline investment operations to contain costs, reduce risk and continue adding value to their business".
Oliver Reinki, managing director (Geschäftsführer) at Union Service-Gesellschaft, adds: “We are confident that extending this partnership will enhance our ability to service our clients, as we continue to benefit from State Street’s products and services and dedication to service excellence.”
