Contacts

:
Ric Shadforth
(02) 8249 1110
rshadforth@statestreet.com

@statestreet

State Street Expands Melbourne Office to Service Asset Management and
Superannuation Clients
SYDNEY, April 12, 2016 — State Street Corporation (NYSE:STT) has announced a significant expansion of

its Melbourne office as part of its commitment to servicing superannuation funds and asset managers in
Victoria.
The expanded office, at 120 Collins Street, will be officially opened today by State Street Chairman and Chief
Executive Officer Joseph L. Hooley, at a client reception.
“Melbourne is home to many of Australia’s largest super funds and asset managers. Expanding our office is a
key milestone for us and reinforces our commitment to growing our business in Melbourne and more broadly
in Australia,” said Hooley.
The opening follows State Street’s appointment last June as custodian and administrator for Victorian Funds
Management Corporation (VFMC).
VFMC will be one of State Street’s largest asset management clients in the Asia Pacific region and will begin
transitioning its assets to State Street in the second quarter of this year.
Paul Khoury, head of Global Services, Australia and New Zealand, said the office underlined State Street’s
commitment to providing VFMC with custody, administration, performance and analytics and middle office
services.
“We’ve had a number of business development and relationship management employees based in
Melbourne but have typically serviced Melbourne clients from Sydney,” he said.
“This expanded office allows us to be closer to our Melbourne-based clients and will house a variety of
relationship management and client service roles, spanning a range of functions.”
State Street Global Advisors, the asset management arm of State Street, is also increasing its presence in
Melbourne as part of the expansion.

STATE STREET CORPORATION

1

1

According to State Street’s recent global survey of pension funds, Australian asset owners are increasing
their alternative asset allocations, with 65 percent planning to increase their exposure to real estate in the
next three years in search of sustainable returns. The survey also revealed a strong focus on strengthening
governance among Australian funds, with almost half saying they would be increasing the detail or frequency
of reporting to the board over the next year.
Hooley added, “We aim to be a strategic partner to institutional investors. We’ll now have the right blend of
asset servicing and asset management expertise in Melbourne to help clients as they expand into new asset
classes and enhance their data, analytics and reporting capabilities.”

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 US$28 trillion in assets under custody and administration and US$2 trillion* in assets under
management as of December 31, 2015, State Street operates in more than 100 geographic markets
worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State
Street’s website at www.statestreet.com.

* Assets under management include approximately US$22 billion as of December 31, 2015, for which State
Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.

GMGSAU-0086

1

Pensions with Purpose - Meeting the Retirement Challenge.
http://www.statestreet.com/content/pensionswithpurpose.html?intcmp=internal00001

STATE STREET CORPORATION

2