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Swedbank agrees partnership with US-based State Street

Nov 30, 2018 - SNL European Financials Daily

Swedbank AB (publ) and State Street Corp. entered into a strategic partnership under which the U.S. asset management firm will be a global custody provider to the Swedish bank.

The partnership intends to combine Swedbank's Nordic and Baltic banking relationships and local presence with State Street's operational, data and analytic solutions. The two entities aim to provide asset servicing for domestically and globally invested organizations.

Swedbank noted that it also agreed to a pa...