Singaporean insurer appoints State Street for custody

Overseas Assurance Corporation drops Northern Trust.

Overseas Assurance Corporation OAC, a wholly owned subsidiary of Great Eastern Holdings in Singapore, has awarded custody and fund administration to State Street following a comprehensive review. OAC is Great Eastern's international business with $2 billion in assets.

The OAC review follows a similar one at its sibling company, Great Eastern Life Assurance, which selected Bank of New York a few years ago.

In addition to generic custody, State Street will...

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