State Street has won a mandate to provide custody, accounting, benefit payments and investment analytics to the McCain Foods Canadian pension plan.

The pension has been in operation since the 1950s and currently has more than CAD 300 million in assets.

David O’Brien, vice president, group treasurer and officer in charge of McCain’s global pension system, said that State Street’s “advanced technology and superior customer service and analytics capabilities” will allow efficiency gains at the programme.

Ron Robertson, senior vice president and managing director of State Street’s Canadian investment servicing arm, added: “This new mandate reflects our commitment to providing a wide range of investment services that are customised to the unique needs of each customer.”

The mandate is the second in Canada for State Street this month, following the Saskatchewan Teachers’ Federation’s decision to use the bank’s investment services for its pension and group benefit funds.