State Street Appointed by Wellington West Asset Management to Provide Investment Services for New Funds

BOSTON & TORONTO--(BUSINESS WIRE)--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors and IFDS Canada, the expert in transfer agency services, announced today that they have been appointed by Wellington West Asset Management, Inc. to provide a range of investment services.

“As our servicing business in Canada continues to expand, we are focused on being a strong partner in helping our customers like Wellington West achieve their growth targets.”

State Street will provide fund accounting, fund administration, custody and trustee services for a group of new funds being launched by Wellington West. Founded in 1993, Wellington West has become one of the largest and fastest-growing independent full-service wealth management firms in Canada with approximately CAD$8.8 billion in assets under administration.

“In selecting a fund service provider, we looked for a technology leader with a demonstrated record of service excellence,” said Kish Kapoor, president of Wellington West Holdings, Inc. “State Street has established a strong presence and track record of success in Canada and was clearly the top choice to meet our needs.”

“We are very pleased to be appointed by Wellington West for this new mandate,” said Kevin Drynan, senior vice president of State Street in Canada. “As our servicing business in Canada continues to expand, we are focused on being a strong partner in helping our customers like Wellington West achieve their growth targets.”

“Wellington West was another key strategic business win for IFDS and we are excited about our long term partnership," says Debralee Goldberg, president and CEO of IFDS (Canada) Ltd. "We look forward to providing our market-leading range of services to an organization with such significant scale.”

State Street has provided investment servicing and management solutions to Canada’s financial services community for more than twenty years. With more than 1,200 employees in Toronto, Montreal and Vancouver, State Street provides a broad array of services to many of Canada’s leading institutional investors.

About State Street

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $18.8 trillion in assets under custody and administration and $1.9 trillion in assets under management at December 31, 2009, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s web site at www.statestreet.com.

About International Financial Data Services

IFDS is a 50/50 joint venture between affiliates of Boston-based State Street Corporation, the world’s leading provider of services to institutional investors, and DST Systems Inc., a Kansas City, Missouri-based leading provider of shareholder accounting services and proprietary systems. IFDS is today recognized as the world’s leading provider of investor record keeping and transfer agency solutions on a BPO (Business Process Outsourcing) and ASP (Application Service Provision) basis. Our services are provided to a wide range of global collective investment, wealth management and platform clients, supporting over 17 million accounts for over 190 organizations, over 9,000 funds and with over 2,700 experienced staff based in four locations (Canada, Ireland, Luxembourg & United Kingdom). Figures as June 30, 2009.

About Wellington West

Headquartered in Winnipeg, MB, the Wellington West group of companies provides full-service brokerage, financial planning, asset management and capital markets services. In the 15 years since its inception, employee-owned Wellington West has become one of the largest and fastest-growing independent full-service wealth management firms in Canada with approximately $8.8 billion in assets under administration. Among our many corporate achievements, Wellington West has earned one of the top two spots as Best Employer in Canada for the past three years, named one of Canada's Fastest Growing Companies in 2007 and one of Canada's 50 Best Managed Companies for 2008. In addition, Wellington West Capital Inc. has held the No. 1 ranking for four of the past five years in the Investment Executive Brokerage Report Card survey and Wellington West Capital Markets Inc., was named No. 2 Independent Investment Dealer in the 2006 Financial Post / Starmine Top Analyst Awards.