State Street Global Advisors has outsourced daily operations of the...

State Street Global Advisors has outsourced daily operations of the service center for its Minneapolis-based WySTAR daily valued record-keeping system to First Data Investor Services Group. SSgA currently has 36 defined contribution plans using the WySTAR system. First Data purchased the WySTAR system from SSgA several years ago; SSgA acquired WySTAR along with the bundled 401(k) plan services unit of Watson Wyatt. SSgA leased the software from First Data to provide service for 37 plan sponsor clients of the Minneapolis service center. The change does not affect SSgA’s Master Plan record-keeping system in Boston. Under terms of the agreement, SSgA continues as the service provider for all defined contribution services including plan administration, investment management and education and communications. All 168 SSgA employees based in Minneapolis will join First Data.