Singaporean insurer appoints State Street for custody

Overseas Assurance Corporation (OAC), a wholly owned subsidiary of Great Eastern Holdings in Singapore, has awarded custody and fund administration to State Street following a comprehensive review. OAC is Great Eastern's international business with $2 billion in assets. The OAC review follows a similar one at its sibling company, Great Eastern Life Assurance, which selected Bank of New York a few years ago. In addition to generic custody, State Street will carry out fund account…