State Street Bolsters Global Relationship with Aberdeen Standard Investments By Servicing ETF Funds

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced an expansion of its relationship with Aberdeen Standard Investments (ASI) by being appointed the service provider for two of the firm’s ETF funds. These two ETF funds have converted from being serviced by another provider to State Street in order to better control costs and maximize efficiencies.

“Our growing relationship with Aberdeen Standard Investments underscores State Street’s differentiated leadership in the ETF space,” said Frank Koudelka, global ETF product specialist at State Street. “State Street’s innovative approach to ETF servicing will empower Aberdeen to not only expand its ETF franchise domestically and globally, but also create new efficiencies through provider consolidation.”

This milestone builds on State Street’s reappointment as ASI’s complete back-office servicing provider which includes global custody, accounting and fund administration for ASI’s fund ranges in the United States and Canada. Through the conversion of the two ETF funds, State Street will now provide the full scope of ETF servicing, including custody, fund accounting, basket creation/settlement, order-taking, transfer agency and regulatory reporting to ASI.

“We view State Street as not only a service provider, but as a partner, because of its industry leadership and demonstrated expertise in servicing ETFs,” said Chris Demetriou, CEO-UK, EMEA & Americas at Aberdeen Standard Investments. “We are pleased to continue to grow our partnership with State Street through their support of our ETF franchise.”

About State Street Corporation

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 $40.3 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of March 31, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

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Expiration date: 12/31/2021