At State Street, we continue to gain the confidence of existing clients and the trust of new ones, one client at a time. Our success is due in large part to understanding the challenges that investors face as they attempt to maneuver the investment process in an increasingly competitive, consolidated marketplace.

Investors need to improve performance, lower costs, navigate diverse, complex financial markets, control risk, manage more burdensome regulatory and compliance requirements, and prepare for industry changes such as T+1 and straight-through processing. Today, perhaps more than ever before, they need to know they can turn to a partner who is experienced, committed and forward-thinking.

State Street is that partner.

Because we work with sophisticated investors around the world to guide them through all phases of the investment process, we have a distinctive opportunity to witness first-hand the evolving complexities of the global investment industry and a unique ability to implement leading-edge solutions required to manage these changes.

Our unparalleled combination of financial expertise and innovative technology enables our clients to focus on running their core business and servicing the needs of their own customers. By partnering with our clients to become specialists in their day-to-day operations, we help them focus their resources on what they do best.

Today, State Street counts several of Canada's largest and most sophisticated investment organizations among its clients. In a relatively short period of time, we have become one of the leading providers of services to pension plans, mutual funds and investment managers. We provide services to many of the country's largest pension plans, asset managers and mutual fund complexes. We are also one of the fastest growing investment managers in Canada, and a recognized global leader in financial intermediation services such as foreign exchange management and transition management. We are proud of our leadership in these areas and will continue to adapt to the industry as it evolves.

The robust infrastructure our corporate parent has built over the past 200 years affords us the ability to respond to the unique needs of our clients without distraction. As an organization, our client focus is unrivaled.

Our dedication to and concentration on four key competencies — research and analytics, investment management, investment servicing and trading services — places State Street in a unique position in the Canadian financial services industry. And, while our clients are Canadian based, our experience and perspective knows no boundaries. The scale and scope of our business around the world has provided us experience and abilities unmatched in this market.

State Street has always prided itself on the level of commitment we bring to each and every client. We continue that solid commitment and look forward to meeting, and exceeding, the needs of investors today and in the future.