As part of the expanded relationship, the global custodian bank will integrate Intesa’s IT business unit and outsource custody back-office operations of the Italian bank.
It builds upon a 15 years long partnership between the two institutions, enhancing State Street’s offering for financial institutions in Continental Europe, while Intesa Sanpaolo increases operational efficiency and service levels.
Denis Dollaku, head of business for State Street Bank International and Italy country head, commented: “We are pleased to see our successful long term partnership with Intesa Sanpaolo expand further, which aligns with our strategic plan to deepen our position as a primary provider of securities services for European financial institutions.”
