State Street Continues Latin America Growth; Announces Global Custody Mandate with Confuturo
July 12 2023 - 9:00AM
Business Wire
State Street Corporation (NYSE:STT) today announced that it has
been appointed to provide custody and fund order services for
Confuturo, a Chile-based insurance company that offers flexible,
health, temporary life, travel insurance, and pensioned consumer
credit solutions. The company is one of the largest provider of
annuities in Chile.
"We look forward to partnering with Confuturo to help their team
generate and sustain growth to meet their investment objectives and
allow them to focus on their core management and operational
responsibilities,” said Alberto Menendez, head of State Street
Chile.
As one of the world’s leading global custodians, State Street
offers a comprehensive suite of custody services, such as
safekeeping and settlements, corporate actions, proxy services
network management, cash management and real-time reporting.
“We are very pleased to announce this mandate with Confuturo, as
it continues our firm’s growth and momentum in Chile and more
broadly across Latin America,” said María Ximena Vásquez Barbosa,
Regional sales head - Latin America & The Caribbean for State
Street.
Today’s announcement strengthens State Street growth in Latin
America over the past several years. Last month, the firm announced
a global custody mandate with Bladex, In 2022, State Street
announced the opening of a new office in Chile to help the firm
serve and support institutional clients in the region, and also
launched an integrated fund trading solution along with a custody
offering for clients in Mexico. Additionally, in 2021, the firm
announced that its Brazilian bank, Banco Comercial (formerly known
as Natixis Brasil S.A. - Banco Múltiplom), began offering full
foreign exchange (FX) trading capabilities and sales
operations.
About State Street
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 $37.6 trillion in assets
under custody and/or administration and $3.6 trillion* in assets
under management as of March 31, 2023, State Street operates
globally in more than 100 geographic markets and employs
approximately 43,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of March 31, 2023 includes
approximately $59 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated. Investing involves risk
including the risk of loss of principal.
© 2023 State Street Corporation - All Rights Reserved
5803211.1.1.GBL.RTL
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230712188591/en/
Media Contact: Brendan Paul Bpaul2@statestreet.com +1 401
644 9182
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024