Exclusive Online Only ContentState Street and IFDS Offer Singapore Transfer Agency Representative Services
November 9, 2009
State Street Corp. and International Financial Data Services (IFDS) said today they are offering Singapore transfer agency representative services to clients.
The new Singapore offering will provide an array of services to assist clients with the distribution of funds in Asian markets. It forms part of State Street’s and IFDS’ wider global transfer agency support strategy to provide global ‘follow-the-sun’ processing and service models as well as regional distribution support capabilities for clients.
The announcement comes as State Street and IFDS mark the second anniversary of their Hong Kong transfer agency service center. ”Transfer agency servicing is an integral part of the extensive range of investor servicing solutions that State Street and IFDS provide to the Asian marketplace,” said Peter O’Neill, EVP of State Street. “Along with IFDS, we are continuing to invest in technology, infrastructure and personnel across the region to ensure our clients are best positioned to take advantage of the region’s opportunities.”
”Our objective is to be the leading provider of transfer agency services around the world,” said Paul O’Neil, Managing Director of IFDS. “Both of these service offerings are core to that objective and are proving successful and popular with our clients, with local institutions and with distributors who highly rate the services we provide.”
The Hong Kong center provides client servicing and regional distributor support services for a range of clients that distribute Irish and Luxembourg domiciled funds in Asian markets. It also supports domestic Hong Kong funds. The team support clients in multiple languages, including Cantonese, Mandarin and Japanese.
IFDS and State Street provide transfer agency and investor record-keeping solutions for institutions, distributors, advisors and investors in Australia, Canada, Germany, Hong Kong, Ireland, Italy, Luxembourg, Singapore, Switzerland, the UK and the US.
IFDS is a 50/50 joint venture between affiliates of Boston-based State Street Corp. and DST Systems Inc., a Kansas City, Missouri-based provider of shareholder accounting services and proprietary systems. State Street Corp. is a leading provider of financial services to institutional investors, including investment servicing, investment management and investment research and trading. State Street operates in 27 countries and more than 100 geographic markets worldwide.
