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Pimco Renews State Street Services Mandate

Pacific Investment Management Co. has reappointed State Street Corp. to provide investment manager operations outsourcing services for assets worth $1.3 trillion.

Pacific Investment Management Co. (Pimco) has reappointed State Street Corp. to provide investment manager operations outsourcing services for assets worth $1.3 trillion. Services provided by State Street to Pimco include custody, accounting, collateral management and valuation services among others.

State Street, a leading supplier of financial services to institutional investors, administers $8 trillion in middle-office assets. Pimco initially hired State Street in 2000 for its investment operations in Newport Beach, California, including for trade processing, custody, accounting, collateral management, pricing, derivatives processing and IT development.

Click here for the release from Business Wire.

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