Kingfisher, a major UK-based retailer, has appointed State Street Bank & Trust as custodian for its £800m ($1.3bn) pension scheme portfolio, comprising of both UK and overseas securities. The mandate is understood to have been previously held by Citibank. The Kingfisher mandate follows closely on State Street picking up a similar sized mandate for WH Smith and marks, what a spokesman described as, not a bad year at all" for the custodian. "We have also done very well in both the Middle East and Africa over the last year," he said."

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