State Street Boston Corp. and the Bank of Ireland today announced they have teamed up to provide custody, accounting and administrative services to offshore mutual funds registered or managed in Dublin. The service initially will be targeted to U.S. global asset managers who want to create offshore mutual funds in Dublin.
Bank of Ireland Securities Services will provide the custody service; State Street Bank, the technology.
Under terms of the alliance, Bank of Ireland will provide local expertise, including its offshore fund infrastructure and administrative staff, while State Street Bank will provide its global multicurrency accounting technology, enabling both companies to service funds locally in Dublin's growing offshore market.
