State Street has completed implementation of a suite of investment services to support Awqaf Investment Company (AIC), the investment arm of the General Authority of Awqaf. Services include global custody, investment accounting, multi-asset class performance measurement, and data aggregation and consolidation. Headquartered in Riyadh, Saudi Arabia, AIC provides integrated investment solutions to the non-profit sector in the KSA.
Haitham Al Fayez, CEO of AIC, said: “State Street has enabled us to be in a unique position when it comes to full transparency of the investment process. The efficient service model provided by State Street Financial Solutions Saudi Arabia helps us future proof our operating model.”