Deutsche Lufthansa AG, Cologne, Germany, retained State Street Corp. as global custodian for $11 billion in company assets.
The extension is for five years, ending in 2019.
State Street will add transition management, collateral management and foreign-exchange execution to services provided to Deutsche Lufthansa, according to a news release from State Street.
State Street will continue to provide fund accounting, risk analysis, performance measurement and securities lending services for Deutsche Lufthansa’s assets in Germany, Switzerland, Luxembourg and the U.S.
Axel Tilmann, senior vice president of group finance at Deutsche Lufthansa, said in the news release the company extended State Street’s contract in part because of “their ability to bundle … services into solutions that accommodate our needs.”
Nils Haupt, spokesman for Deutsche Lufthansa, said the company had no further comment.