Toronto-headquartered Wellington West Asset Management has appointed State Street Corporation, along with IFDS Canada, the transfer agency services firm, to provide a range of outsourced investment services.

Under the deal, Boston-based State Street will provide fund accounting, fund administration, custody and trustee services for a group of new funds being launched by Wellington West. IFDS, which is a joint venture between affiliates of State Street and DST Systems, provides investor record-keeping and transfer agency services on both a business process outsourcing (BPO) and application service provision (ASP) basis.

“In selecting a fund service provider, we looked for a technology leader with a demonstrated record of service excellence. State Street has established a strong presence and track record of success in Canada and was clearly the top choice to meet our needs,” said Kish Kapoor, president of Wellington West Holdings.

State Street has been providing investment servicing and management solutions in Canada for some twenty years, and has 1,200 employees based across offices in Toronto, Montreal and Vancouver.