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Money Management Executive

CitiStreet Lands $250 Million in New Business

March 14, 2001, 1:00 a.m. EST 1 Min Read

CitiStreet, a retirement benefits provider of Quincy, Mass., has signed contracts with six mid-size companies with a total of 9,000 participants and total assets of more than $250 million, the firm announced today.

CitiStreet is a joint venture between Citigroup of New York and State Street Corporation of Boston, formed last year to provide investment management and administrative services to retirement plans. CitiStreet serves approximately five million participants and manages $200 billion in assets in retirement, health and welfare plans.

The new contracts include Discount Tire of Scottsdale, Ariz., Fremont Investment Advisors of San Francisco, Old Castle Architectural Products Group of Atlanta, Schawk of Des Plaines, Ill., Jazz Casino of New Orleans and Jeppesen Sanderson, a division of Boeing of Seattle.

CitiStreet will provide all record keeping, administration and investment management for the companies, CitiStreet announced.

Each company can choose funds offered by Smith Barney Mutual Funds of New York, a subsidiary of Citigroup Asset Management, and State Street Global Advisors of Boston, the company said.

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