LONDON — IndependentAge, a U.K. charity with $220 million in assets under management, hired State Street Corp. as global custodian, confirmed Carolyn Cichon, a State Street spokeswoman.
IndependentAge officials were not available for comment, but in a news release, Jonathan O'Shea, the organization's finance director, said IndependentAge already uses State Street's WM Performance Services, which operates a performance measurement service specifically for U.K. charities.
"We have been very pleased with WM's charity service, and we are delighted to expand the range of services we are receiving from State Street," Mr. O'Shea said in the release. "We look forward to realizing the benefits of an integrated service offering which includes custody, fund accounting and performance measurement under the same umbrella."
State Street replaced Bank of New York.