GLOBAL- Credit Suisse Funds and ING Funds have appointed Boston-based State Street Corporation to provide them with full custody and administration services. The two mandates have a combined value of $26bn (€29.7bn).

The appointed by Credit Suisse is an extension of State Street’s existing role as custodian. Under the new relationship, State Street will also provide accounting and fund administration services for 50 Credit Suisse funds representing some $8bn (€9.1bn) in assets.

ING has appointed State Street to provide custody and accounting services for the 48 ING funds that formerly made up the Aetna fund range, worth $16bn (€18.3bn).

As with Credit Suisse, State Street already acts as custodian to 56 other ING funds, the range previously known as Pilgrim, worth $13bn (€14.8bn).