Caisse de Depot et Placement du Quebec, Montreal, rehired State Street as custodian for the Caisse's C$200.1 billion (US$182.3 billion) in assets.
State Street has been custodian for the Caisse since 2000, according to a news release from Caisse, which manages assets for provincial, municipal and other pension funds in Quebec as well as other provincial entities.
As part of the rehiring agreement, State Street will add 100 professional financial services jobs over the next year in Montreal, almost tripling its number of employees based in Montreal.
The Caisse issued an RFP in 2013; eight firms responded.
Officials at Caisse could not be reached for further details.
