BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT) today announced that its Brazilian bank has begun to offer full foreign exchange (FX) trading capabilities and sales operations. State Street previously acquired control of Natixis Brasil S.A. - Banco Múltiplo, a São Paulo-based Brazilian financial institution in 2019.
This milestone serves as an important marker for the firm’s broader expansion plans for the Latin American region, as this an opportunity to better serve both its local and global clients – as well as prospects – by bringing its market leading capabilities and unparalleled scale to LatAm.
State Street now has 13 FX sales and trading desk locations globally, and combined with its global custodial network, provides clients with the highest levels of onshore access. Through local trading desks, State Street clients have an unparalleled level of insight into the conditions and developments impacting local markets, as well as additional access to liquidity.
“Today’s announcement is the culmination of many years of diligent planning,” said Tony Bisegna, global head of multi asset class trading and research for State Street Global Markets. “Brazil – like many other Latin American countries – is an increasingly important market for institutional investors globally. State Street continues to be very well positioned to help our global clients navigate the challenges of investing in emerging markets, through our market leading foreign exchange products, as well as our award-winning research platform which combines State Street’s proprietary flow information, real-time economic indicators derived from big data, and partnerships with academics to deliver investment strategy insights to our clients.”
State Street also announced it has appointed Marcia Rothschild as head of Latin America with responsibility for leading sales and deepening relationships with clients and prospects. She joins from Vistra where she served as business development director for Vistra’s Alternatives division. Prior to working at Vistra, Rothschild held leadership positions at SS&C, Citigroup, and BNP Paribas.
“I’m very excited to be leading State Street’s expansion efforts in the Latin American region,” said Rothschild. “LatAm is a very important region for the firm, and I believe there are tremendous opportunities when you combine State Street’s global scale with the local talent we have already added. I’m confident this will allow us to continue to execute on our ambitious growth plans in the region.”
Earlier this year, State Street was ranked by Euromoney Magazine as number one provider in several Foreign Exchange services, including being ranked No. 1 in Real Money Market Share for the third consecutive year, as well as Number 1 in Research for Real Money and Customer Satisfaction. The ranking, now in its 42nd year, is the most comprehensive quantitative and qualitative annual study available on the foreign exchange markets. to see the full rankings.
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 $36.6 trillion in assets under custody and/or administration and $3.1 trillion* in assets under management as of September 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at .
*Assets under management as of September 30, 2020 includes approximately $81 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.
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