State Street and Neuberger Berman Extend Mutual Fund Servicing Agreement

Rhea-AI Summary

State Street Corporation (NYSE: STT) has announced an extension of its service agreement with Neuberger Berman to continue providing accounting services for Neuberger's $40 billion mutual funds business. This renewal underscores the strong partnership built over nearly four decades. John Lehner, head of State Street's asset manager segment, expressed pride in supporting Neuberger Berman, a private investment management firm that serves institutional investors and high-net-worth individuals globally.

Positive

• Extension of service agreement with Neuberger Berman strengthens long-term partnership.
• Neuberger Berman manages $40 billion in mutual funds, indicating robust business growth.

Negative

• None.

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced an extension of its service agreement with Neuberger Berman to renew accounting services for Neuberger’s $40B mutual funds business.

“We are very proud to build on our nearly four decade relationship with Neuberger Berman,” said John Lehner, head of State Street’s asset manager segment. “We have forged a strong, collaborative partnership with the firm through the years, and this extension to support their mutual fund business is a testament to our goal of being a long-term partner for our clients.”

Neuberger Berman Group LLC is a private, independent, employee-owned investment management firm. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutional investors, advisors and high-net-worth individuals.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $36.6 trillion in assets under custody and/or administration and $3.1 trillion* in assets under management as of September 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of September 30, 2020 includes approximately $81 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

© 2020 State Street Corporation - All Rights Reserved

3346070.1.1.GBL.RTL

Expiration Date: November 30, 2021