British Airways pension trustees tap State Street
State Street Corp., a Boston company that provides financial services to institutional investors, said it that it has been retained by the British Airways Pension Trustees to service its £14 billion UK pension fund.
Based on currency exchange rates, that amount would be roughly $21 billion.
In a press release, State Street said it will will provide British Airways with custody, accounting, performance measurement, securities lending, trade matching, and cash management. State Street added that has provided a range of investment services to British Airways since 1997.