State Street Corporation has been appointed by the National Pension Service (NPS), South Korea's social security system, to provide global custody, securities lending and related services.
The mandate from NPS adds to State Street's existing presence in the Asia-Pacific region.
In March, State Street was appointed by Bank of China to jointly service the foreign currency insurance funds of China Life Insurance Company.
It was the first offshore insurance investment fund awarded as a jointly-serviced mandate in mainland China.
In July, State Street was appointed by the Workers Compensation Nominal Insurer of New South Wales to provide investment services for about $12 billion in assets.
