State Street Corporation has won a mandate from Deutsche Bank, whose custody business it recently bought, to provide investment services to Scudder Investments, a unit of Deutsche Asset Management (DeAM).

State Street will provide Scudder, which is the US retail brand for DeAM, with fund accounting and fund administration to the firm's 200 open and closed-end mutual funds, fund of funds and defined contribution products. In total the mandates encompass assets worth roughly $135bn (€119bn).