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State Street to provide investment services to 2 German companies

State Street Corp.has been appointed by Allianz GlobalInvestors GmbH and DekaBankDeutsche Girozentrale to provide investment services for more than €500billion in assets.

The company will provide fund accounting, fund administration,data management, reporting, fund year-end and tax support services. State Streetwill assume the technology infrastructure of the previous provider, Dealis FundOperations, and approximately 350 employees who are expected to join State Street.Dealis is a joint venture of DekaBank and Allianz Global Investors.