The Pension Protection Fund (PPF) has appointed State Street to provide securities lending services, Professional Pensions reports. The fund has also reappointed State Street for a five-year term to provide a range of global custody and administration services. The bank now services £5 billion in assets at the PPF, adds Fundamentals. The lifeboat fund originally appointed State Street in 2005. The fund added risk analytics as well as independent valuation of over-the-counter derivatives to the State Street services range in 2008.
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