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State Street Continues Latin America Growth; Announces Global Custody Mandate with Confuturo
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State Street Corporation (NYSE:STT) has been appointed to provide custody and fund order services for Confuturo, a Chile-based insurance company. This partnership aims to help Confuturo meet their investment objectives and focus on their core management responsibilities. State Street, a leading global custodian, offers a comprehensive suite of custody services, strengthening its growth in Latin America.
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BOSTON--(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.
What services will State Street provide for Confuturo?
State Street will provide custody and fund order services for Confuturo, a Chile-based insurance company.
What are some of the services offered by State Street as a global custodian?
State Street offers services such as safekeeping and settlements, corporate actions, proxy services network management, cash management, and real-time reporting.
What recent expansions has State Street made in Latin America?
State Street has strengthened its growth in Latin America by announcing a global custody mandate with Bladex, opening a new office in Chile, and launching an integrated fund trading solution along with a custody offering for clients in Mexico.
