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State Street Corporation, one of the world’s leading providers of financial services to institutional investors, announced on 18 May 2010 that it has completed its acquisition of Intesa Sanpaolo’s Securities Services business (ISPSS) for EUR1.28 billion in cash, financed through available capital. State Street has acquired Intesa Sanpaolo’s custody, fund administration, Depository bank and correspondent bank (banca corrispondente) businesses with approximately EUR369 billion assets under custody as of March 31, 2010. State Street has also acquired approximately EUR9 billion in cash deposits and will support the acquired ISPSS balance sheet with approximately EUR450 million of additional capital subject to closing adjustment mechanism. As announced in December 2009, the acquisition is...
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