Canada’s Department of Finance recently selected State Street Corp. to act as the collateral manager and custodian for the government’s currency swap program.

“We are very pleased to be selected by the Department of Finance and the Bank of Canada to support their middle office needs,” Rob Baillie, senior vice president and head of State Street Canada, said in a statement. “We are dedicated to providing our clients specialized 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.”

The Boston-based global investment firm has had a presence in Canada for 25 years. State Street has more than 1,300 employees and more than $1 trillion in assets under custody. The firm said in a press release that it’s grown 65 percent in Canada over the past five years.

Oh, Canada! Canadian Finance Dept. Taps State Street To Manage Swap Program

by Banker & Tradesman time to read: 1 min