State Street Appointed to Service $700 Million in Assets for Afore SURA in Mexico
June 03 2013 - 10:00AM
Business Wire
State Street Corporation (NYSE:STT), announced today that it has
been appointed by Afore SURA, one of the largest pension funds in
Mexico, to provide custody and fund administration services for
international segregated accounts. Afore SURA is a subsidiary of
the Colombian holding firm, Grupo SURA.
“After an intensive review of several custody and administration
service providers, we selected State Street because of its global
reach and strength in implementation of mandates,” said Enrique
Solorzano, chief investment officer of SURA Mexico. “We’re very
excited to enter into this partnership with State Street.”
“We are very pleased to be selected by Afore SURA,” said Alan
Greene, executive vice president of Americas investment services
and institutional services at State Street. “There are several
global and regional long-term trends that are strengthening the
opportunities for institutional investors and service providers in
the Latin American region specifically Mexico, including declining
inflation and an increased depth of local financial markets. State
Street’s integrated multi-currency custody/administration platform
is well positioned to support this growth. We look forward to
developing a long-term partnership with Afore SURA.”
State Street provides a range of servicing solutions such as
custody, fund accounting, performance and analytics, and client
reporting to a broad array of institutional investors globally.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $25.4 trillion in assets
under custody and administration and $2.2 trillion in assets under
management at March 31, 2013, State Street operates in more than
100 geographic markets worldwide, including the U.S., Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s web site at www.statestreet.com
This AUM includes the assets of the SPDR Gold Trust (approx.
$62.7 billion as of March 31, 2013), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
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