Credit Suisse Funds and ING Funds have chosen State Street to provide transfer agency, fund accounting, fund administration and custody services for their funds. These two agreements total approximately $26 billion in assets, according to State Street.

State Street's previous relationship with Credit Suisse Funds has been as custodian. Now, State Street will provide accounting and fund administration services for approximately 50 funds.

As with Credit Suisse, State Street is building on a pre-existing relationship with ING. State Street has also served as custodian for 56 ING funds. ING has consolidated its domestic fund accounting and custody services.

"Consolidating our domestic custody and fund accounting under one roof makes perfect sense. With our long and fruitful history of working with State Street, they were a natural choice for this important role. Expanding our relationship will result in cross-functional efficiencies that can be passed on to our shareholders. State Street has been an important partner to us as we have grown our fund business over the years," stated Michael Roland, executive vice president and cfo at ING Funds. 

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