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Treasurer Wooden taps Boston’s State Street for funds management services

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Boston’s State Street Bank will provide master custodian services and accounting administration for the Connecticut Retirement Plan and Trust Funds and their internally managed funds, which total $61 billion in current assets.

State Street will also serve as an investor account administrator for Connecticut’s Short-Term Investment Fund (STIF), $12.5 billion fund that is internally managed by the state treasurer’s office and serves as an investment vehicle for the operating cash of the state and all political subdivisions within Connecticut.

State Street was chosen from a Request for Proposal issued by Treasurer Shawn Wooden’s office last December.

“As a leading provider of financial services to institutional investors with a strong track record of delivering services to sophisticated asset owners, Connecticut is thrilled to announce our decision of bringing on State Street as the master custodian for our pension funds,” said Wooden in a press statement.

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Phil Hall’s writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release “Moby Dick: The Radio Play” and the upcoming “Jesus Christ Movie Star,” both published by BearManor Media). He is also the host of the SoundCloud podcast “The Online Movie Show,” co-host of the WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor – usually playing the creepy villain who gets badly killed at the end of each film.