STATE STREET RESEARCH AWARDED NEW INSTITUTIONAL BUSINESS FROM CSX
CORPORATION
BOSTON, MA, April 16, 2001- State Street Research & Management Company, with
a history dating back to 1924, announced today that it has been awarded $130
million from CSX Corporation. State Street Research has been selected to
provide large cap growth investment management for The Master Pension Trust
for CSX Corporation and Affiliated Companies. During the competitive search
process, three
investment managers, including State Street Research, were under
consideration for their experience and ability to successfully manage money
in this investment discipline.
CSX Corporation, based in Jacksonville, Florida, is a Fortune 500,
transportation company, with a unique combination of rail, container
shipping, intermodal and logistical services providing global distribution
and delivery. They are also diversified beyond transportation with
interests in a resort property, real estate, communications and technology.
"This win speaks to the triumvirate power of relationship building,
persistence and investment management capabilities," said Chris Abbott,
Executive Vice President, Head of Institutional Marketing and Client Service
Group for State Street Research & Management Company. "The relationship
with CSX was established in 1997, and has continued to develop, ultimately
culminating in this truly significant win."
State Street Research & Management Company, with a money management history
dating back to 1924, is one of the nation's first investment management
organizations. The Boston-based firm is a subsidiary of MetLife, one of the
world's largest financial services companies. As of February 28, 2001,
State Street Research managed $51 billion in assets, of which over $33
billion represented institutional clients. The firm manages money for 11 of
the 15 largest U.S. corporate pension plans (as reported in the 2001 Money
Management Directory), union programs, public employee pension plans, mutual
funds for over 530,000 shareholder accounts, as well as individually managed
accounts for affluent investors. The firm's Web site address is
www.ssrinstitutional.com.
